Appendix — United States v. Marine Bancorporation, Inc.
Supreme Court brief1974
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Supreme Court of the United States
OCTOBER TERM, 1973
No. 73-38
UNITED STATES OF AMERICA,
Appellant,
—
MARINE BANCORPORATION, THE NATIONAL BANK OF
COMMERCE OF SEATTLE, WASHINGTON TRUST BANK,
AND JAMES E. SMITH, COMPTROLLER
OF THE CURRENCY
ON APPEAL FROM THE UNITED STATES DISTRICT COURT
FOR THE WESTERN DISTRICT OF WASHINGTON
INDEX
Page
Docket Entries 1
Complaint by the United States filed October 22, 1971 9
Defendants’ Answer to the Complaint filed November 22,
1971 . 17
Intervenor’s Answer to the Complaint filed December 8, 1971.. 24
Defendants’ Answers to Plaintiff's Interrogatories:
No. 5(A)(2), (3) = 30
Na e 2 44
No. 23 53
No. 30 — 60
No. 33 75
No. 34 — — 80
No. 40 = 84
No. 48 „% A 87
ii INDEX
Page
Plaintiff's Answers to Intervenor’s Interrogatories (Set.
No. 1):
Ne 114 „%ỹœd!ũñũñ„% 91
No. 15 91
No. 16 4 92
No. 17 92
Deposition of Robert F. Buck taken August 16, „ 93
Buck Deposition Exhibit 1“ * 1514
Buck Deposition Exhibit 22 1516
Buck Deposition Exhibit 3“ 1576
Buck Deposition Exhibit 4“ 1407
Buck Deposition Exhibit 5 132
Buck Deposition Exhibit 6“ 1358
Buck Deposition Exhibit 7 136
Deposition of Maxwell Carlson taken August 16, 1972 137
Carlson Deposition Exhibit! 152
Carlson Deposition Exhibit 2* 1273
Carlson Deposition Exhibit 33 154
Deposition of Ralph J. Stowell taken August 16, 1972 157
Stowell Deposition Exhibit 11 1432
Stowell Deposition Exhibit 2* . 1433
Stowell Deposition Exhibit 3* 1393
Stowell Deposition Exhibit 4* = — 1284
Deposition of Frank A. Abersfeller taken August 17, 1972 195
Abersfeller Deposition Exhibit 1 236
Abersfeller Deposition Exhibit 2. 1391
Abersfeller Deposition Exhibit 3 239
Abersfeller Deposition Exhibit 4 240
Abersfeller Deposition Exhibit 57 . 1279
Deposition of Andrew Price, Jr. taken August 17, 1972. 242
Price Deposition Exhibit 1-1“ 1430
Price Deposition Exhibit 1-222 . 1429
Price Deposition Exhibit 1-37 1428
Price Deposition Exhibit 1444 .. 1427
Price Deposition Exhibit 1-5 1426
Price Deposition Exhibit 1-6) 1425
Price Deposition Exhibit 1-7* 1424
Price Deposition Exhibit 1-8 1423
Price Deposition Exhibit 1-999 1422
Price Deposition Exhibit 1-10* .. 1421
Price Deposition Exhibit 1-111. .. 1420
Deposition Exhibits which correspond to Government Exhibits
are reproduced in the category of Government Exhibits.
INDEX iii
: Page
Deposition of Andrew Price, Jr. taken August 17, 1972—Con-
tinued
Price Deposition Exhibit 1-12* 1419
Price Deposition Exhibit 1-13* .... 1418
Price Deposition Exhibit 1-14* 1417
Price Deposition Exhibit 1-15* 1416
Price Deposition Exhibit 1-16* 1415
Price Deposition Exhibit 1-17* 1414
Price Deposition Exhibit 1-18 327
Price Deposition Exhibit 1-19* 1413
Price Deposition Exhibit 1-2o )) 1412
Price Deposition Exhibit 1-21* 1411
Price Deposition Exhibit 1-22* 1410
Price Deposition Exhibit 1-23* 1409
Price Deposition Exhibit 1-24* _............ 1406
Price Deposition Exhibit 1-25* .... 1404
Price Deposition Exhibit 1-2 1403
Price Deposition Exhibit 1-27̃77 1402
Price Deposition Exhibit 1-28* — 1401
Price Deposition Exhibit 1-297 1400
Price Deposition Exhibit 1-30* 2.0.2.2... 1399
Price Deposition Exhibit 1-31* . 1398
Price Deposition Exhibit 1-32* 0. 1397
Price Deposition Exhibit 1-33* 1396
Price Deposition Exhibit 1-344. — 1395
Price Deposition Exhibit 1-35“ — 1393
Price Deposition Exhibit 1-36 1394
Price Deposition Exhibit 1-37c0rmũ d 1392
Price Deposition Exhibit 1-3ũ 1391
Price Deposition Exhibit 1-39“ 1389
Price Deposition Exhibit 1-40* 1390
Price Deposition Exhibit 2ãũ : 1433
Price Deposition Exhibit 3* 1432
Price Deposition Exhibit 4* 8 1593
Price Deposition Exhibit opöĩ·⸗u 1650
Price Deposition Exhibit din 1514
Price Deposition Exhibit 7 — 1573
Price Deposition Exhibit 8 sees 329
Price Deposition Hubibit 8° .........2:...02.0.5 0. 1356
Price Deposition Exhibit 10 00 1358
Price Deposition Exhibit 11* — 1857
Deposition of Dean W. Loney taken August 18, 1972 331
Loney Deposition Exhibit 111i 1514
Loney Deposition Exhibit $* ........................................ 1573
Pretrial Order and attached Exhibits A through H, filed
eaneery 6.1016 ee ee 364
* Deposition Exhibits which correspond to Government Exhibits
are reproduced in the category of Government Exhibits.
iv INDEX
Transcript of proceedings held before the Hon. William N.
Goodwin, United States District Judge for the Western
District of Washington, on January 8, 1973:
A
Page
446
ppearances
Transcript of the proceedings.
Testimony of Robert E. Smith
—direct—[50]
—voir dire—[57]
—further direct—([61]
Transcript of proceedings held before the Hon. William N.
Goodwin, United States District Judge for the Western
District of Washington, on January 9, 1973:
Appearan ces ...... .....
Testimony of Robert E. Smith (resumed)
direct [117 13—L—„U———.———.———.—.———————
—cross—[158] 8 —
redirect [1833 . .
Testimony of Warren P. Cooley
Adirect—[19313q2⁊—.:——————.—.——.——.—.——.
eros [20911 ——.—————.———.——:—.———.ͥ—.ꝛ—
Testimony of Michael Marston
direct [218B 1 ———————.————.——.——.—
—cross—([264]
Transcript of proceedings held before the Hon. William N.
Goodwin, United States District Judge for the Western
District of Washington, on January 10, 1973:
Appearances . ...... ......
Testimony of Charles F. Haywood
direct [3299 —.yꝙ——.—— ᷑——.——.—
eres 185781] ——————..———.————4̈(2—õͤ—õ
direct — [4251 —᷑———.—————.—ꝗ:ůi—.—
eross—I4d((lJ————.————.—..ç.——.————.
Testimony of Maxwell Carlson
direct 459 ————.——'————.—u—.——-g—ůũiZ—!ᷣõ—.———
Transeript of proceedings held before the Hon. William N.
Goodwin, United States Distriet Judge for the Western
District of Washington, on January 11, 1973:
Appearances
Testimony of Joseph C. MacMurray
direet— [4883 —————u—.—————— .
—CTOBB— [5551 ——.—.——L————..—u.
redirect 4I57444ET——.——.————.———
447
473
477
479
510
511
533
549
555
INDEX v
Transcript of proceedings held before the Hon. William N.
Goodwin, United States District Judge for the Western
District of Washington, on January 11, 1973 :—Continued
Testimony of Richard G. Bennett
—direct—[622] 804
—cross—[633] 810
—redirect——[645] 818
Transcript of proceedings held before the Hon. William N.
Goodwin, United States District Judge for the Western
District of Washington, on January 12, 1978: >
Appearances 820
Testimony of Betty Bruckner
—direct—[654] 822
—cross—[656] 824
—redirect—[662] 828
Testimony of William F. Barrett
—direct—[663] . 828
—cross—[672] 834
Testimony of Leroy Johnson
—direct—[684] 841
—cross—[687] 843
Testimony of Maxwell Carlson (resumed )
—direct—[692] 846
—cross—[715] 860
—redirect—[749] 881
Transcript of proceedings held before the Hon. William N.
Goodwin, United States District Judge for the Western
District of Washington, on January 15, 1973:
Appearances 883
Testimony of Raymond A. Hanson
—direct—[756] 884
—cross—[761] 887
—redirect—[773] 893
Testimony of Neil Degerstrom
—direct—[774] 894
—cross—[779] 897
Testimony of E.D. McCarthy
—direct—[780] 897
—cross—[785] " 1 900
redirect 788] 902
Testimony of Arden Jacklin
—direct—[789] 903
—cross—[793] 905
redirect [797] . 908
Testimony of R. Neil Williams
direct 798. 908
—cross—[802] 911
vi INDEX
Page
Transcript of proceedings held before the Hon. William N.
Goodwin, United States District Judge for the Western
District of Washington, on January 15, 1973 :—Continued
Testimony of Leonard Maxey
—direct—[803] —
—cross—([805] * 913
redirect [807] 914
Testimony of Merton L. Howard
direct [80813 ———————u—————.—.—(. „ 915
—cross—(811] 917
Testimony of Philip H. Stanton
—direct—([814] 918
—cross—([846] 937
—redirect—[861] 945
Testimony of T. Robert Faragher
—direct—[867] 948
—cross—([911] 974
Transcript of proceedings held before the Hon. William N.
Goodwin, United States District Judge for the Western
District of Washington, on January 16, 1973:
Appearances 1007
Testimony of H. Joe Selby
a EE |_| | 1008
—CTOSB— [979] 111————————ꝗ2nl.—.—u—.—u.—u—. 013
—redirect—[1018] 1036
Testimony of Nevins D. Baxter
—direct—[1031] 1043
—cross—[1066] a. 3 1063
Testimony of Robert K. Hurni
direct [1132] : 1102
Transcript of procedings held before the Hon. William N.
Goodwin, United States District Judge for the Western
District of Washington, on January 17, 1973:
Appearances ... 1115
Transcript of the proceedings 1116
Government Exhibits:
0000 —. —— 1148
GX A-2 1149
GX A-3 . 1150
GX A-4 1152
GX A-5 .. 1153
GX A-6 1154
GX A-7 1155
81 A-2222 ——.—.———..—]——.————— 1156
GX A-9
GX A-10
GX A-11
GX A-12
GX A-13
GX A-14
GX A-15
GX A-16
GX A-17
GX A-18
GX A-19
GX A-20
GX A-21
GX A-22
GX A-23
GX A-24
GX A-25
GX A-26
GX A-27
GX A-28
GX A-29
GX A-30
GX A-31
GX A-32
GX A-33
GX A-34
GX A-35
GX A-36
GX A-37
GX A-38
GX A-39
GX A-40
GX A-41
GX A-42
GX A-43
GX A-44
GX A-45
GX A-46
GX A-47
GX A-48
GX A-49
GX A-50
GX A-51
GX A-52
GX A-53
GX A-54
GX A-55
GX A-56
GX A-57
GX H-138
GX H-14
GX H-15
GX I-l-a
GX I-1
GX I-l<
GX 1-2
GX I-3
GX I-4-a
GX I-4-b
GX I 4c
GX 144
GX I-4e
GX 14
GX I-6-a
GX I-6-b
GX I-7
GX I-8-a
GX I-8-b ..
GX I-9-a
GX I-9-b
GX I-10-a
GX I-10-b
GX I-ll-a
GX I-11
GX I-ll<
GX 1-114
GX I-ll-e
GX I-11-f
GX-J-1
———
GX J-2
GX J-3
GX J-4
GX J-5
GX J-7
GX J
GX J-9
GX J-10
GX I-11
GX J-12
GX J-18
GX J-14
GX J-16 .............
GX J-16
GX J-17 .....
GX J-18
GX J-19
GX J-20
GX J-21
—
GX J-22
x INDEX
Page
GX J-23 1399
GX J 24 1400
8118 —.—ß—ç—tjߧ—22v...ĩͤĩrX5xX—⸗J̃ ĩ—.— 1401
GX J-26 — 1402
GX J-27 1403
GX J-28 1404
GX J-29 1405
GX J-30 1406
GX J-31 1407
GX J-32 1408
23—L-—ͤu-«cc w ⁵ k ]³Xnł¼lůU 1409
GX J-34 1410
GX J-35 1411
GX J-36 1412
GX J-37 1418
GX J-38 ini 1414
GX J-39 . 1415
GX J-40 1416
GX J-41 .. 1417
GX J-42 ä — 1418
GX J-43 1419
GX J-44 ͤ„ä— 1420
GX J-45 1421
—/ 26 ——3—5—7—75ðTᷣͤĩÄͤ˙ꝛ.u— 1422
GX J-47 1423
GX J-48 — * 1424
CO BD —8——5rß«—,5⅛ö ů—ßK—rßÄ1,ߧL’ù1ñw—ů— 1425
8808.—8—5rßð—,:T———————r5rv5rv.kb — 1426
GX J-51 1427
GX J-52 1428
GX J-53 a 1429
GX J-54 1430
GX K-l 1481
GX K-2 1482
—1ꝑé12—.—ß—5rßð—-æʒ—ñVñĩjö2X—X—— ́“Pͤç—— 1433
GX K-4 1435
GX K-5 = 1436
GX K-6 1438
GX K- 7-2 — 1440
GX K-7-b . 1441
2 ̃ ͤ ̃]⁵—· 1442
GX K- 1443
817t ————ßůß—8ß—ß—t—ß—ß—ß—ß5ß5ð5ið—. 1444
GX K-10 1445
GX K-ll-a — 1446
GX K- 11 1447
888 —.— 1448
GX K-13 .. . ͤBäP1 1452
GX K-14 — 1454
xii
GX K-48-b
GX K-49-a
GX K-49-b
GX K-50
GX K-5l-a
GX K-51-b
GX K-6l-<
GX K-51-d
GX K-52
GX K-53-a
GX K-53-b
GX K-54-a
GX K-64-b
GX K-55-a
GX K-55-b
GX K-55-c
GX K-56
GX K-57-a
GX K-57-b
GX K-58
GX K-59
GX K-60
GX K-61
GX K-62
GX K-63
GX K-64
GX K-65
GX K-66
GX K-67
GX K-68
GX K-69
GX K-70
GX K-71
GX K-72-a
GX K-72-b
GX K-72-b-1
GX K-73
GX K-74-a
GX K-74-b
GX K-74-c
GX K-75
GX K-76
GX K-77
GX K-78
GX K-79-a
GX K-79-b
GX K-79-c
GX K-80
1570
1573
1576
1579
1591
1592
1593
1607
1608
1612
1613
1615
1616
1617
1618
1634
1650
GX K-81 1667
GX K-82 1668
GX K-83 1669
GX K-84-a 1678
GX K-84-b 1679
GX K-85-a 1680
GX K-85-b 1681
GX K-85-c 1682
GX K-86 1683
GX K-87-a 1684
GX K-87-b 1685
GX K-88 1686
GX K-89 1688
GX K-90 1690
— —ö—᷑Z¶? 1691
GX K-92 1692
GX K-93 1694
GX K-94 — 1695
GX LI 1697
—ZA 1747
GX M1 1753
GX M- 2 1758
GX N 1769
GX O-1 1820
GX 0-2 1821
GX 0-3 1822
GX 0-4 — 1823
GX 0-45 — 1824
GX 0-6 1825
GX 0-7 1826
GX 0-8 1827
Gx 0-9 1828
GX O-11 1829
GX 0-19 1830
96 ——— — 1831
Defense Exhibits:
DX 1 1832
DX 2 1833
1 ͤ— ͤ — 1834
4 —— —ů—ů ——— 1835
253——ů——ůůů—ů—ů—ů—ů ů— 1836
DX 6 1837
3333 ů ———— 1838
DX 9 1839
DX 10% — 1840
PPP A 1841
* Colors are not shown on this map in the Appendix. They are
shown on the map in the record certified to this Court.
DX 20
DX 21
DX 22
DX 23
DX 24
DX 25
DX 26
DX 27
DX 28
DX 29
DX 30
DX 31
DX 32
DX 33
DX 34
DX 35
DX 36
DX 37
DX 38
DX 39
DX 40
DX 41
DX 42
DX 43
DX 44
DX 45
DX 46
DX 47
DX 48
DX 49
DX 50
DX 51
DX 52
Intervenor’s Exhibits:
Exhibit L to Intervenor’s Exhibit 500
Exhibit (1) to Intervenor’s Exhibit 500
Transcript of Proceedings held before the Hon. William N.
Goodwin, United States District Judge for the Western
District of Washington, on January 31, 1973 at Tacoma,
Washington
1857
1858
1859
1861
1862
1863
1864
1865
1866
1867
1868
1870
1871
1873
1875
1877
1879
1881
1883
1891
1899
1900
1901
1902
1904
1905
1908
1911
1912
1913
1914
1915
1916
1918
1920
INDEX xv
Page
Findings of Fact and Conclusions of Law filed January 31,
1973 1932
Transcript of Proceedings held before the Hon. William N.
Goodwin, United States District Judge for the Western
District of Washington, on February 22, 1973 at Las
Vegas, Nevada 1953
Notice of Appeal to the Supreme Court by the United States
dated March 30, 1973 1970
Order of the Supreme Court noting probable jurisdiction,
dated October 15, 1973. 1973
1491
NATIO? “. BANK OF COMMERCE OF EATTLE GX K-34-a
December 8, 1967
Mr. Dean W. Loney
Loney, Westland & Raekes
Attorneyos-at-Law
P. O. Box 6125
Kennewick, Washington 99336
Dear Hr. Loney:
Following our earlier conversations, I have
discussed tho formation of the Columbia Center National
Bank with several potential investors. Listed on the
attached schedule are tho names of 411 the peoplo with
whom I have had any discussion about investing in the
bank, All of the people have expressed a willingness
de make cepttal- fundo-eveitebte-to the new bank no
Since the total percentage chown on the attached
schedule is for 30. 721, there remains 61.28% of the stock
to be placed among other people in your area including tho
organizors. As you have indicated in your letter to Mr.
Leaf dated December 7, 1967, the organizers, directors and
their interests will not om more than 402 of the bank's .
stock. I bolicva Mr. Glenn Leo end tr. Robert Phillip
have expressed en interest in the stock, Mr. Bert Field
has, and 1 presume the manager of the bank will wich some
stock. ‘
You attached a copy of Mr. Boy's letter of
September 22, 1967 to the applicat ton. You may wish to
consider ochding a copy of his letter dated Decenber 1,
1967 co that Mr. Leaf will sense tha speed with which
this project is progressing.
Mr. Fun and Mr. Stowoll will bo happy to fill
out the forms similar to the ones the organizers completed
when you send them over to me, 7
Sinceroly yours, a
Andrew Price, Jr.
Chainnan
AP :we .
Enclosure
1492
22. — . Ue RENCE UP sEALILE
Cory ‘
SCHEDULE, OF PROPOSED STOCK OMERSIIPS
COLUMBIA CENTER NATIONAL RANK
Name and Percentage of
Address K 222.92.
5 E fates . 7 ‘HOLDERS 10%
P. O. Box 2232
Seattle, Washington 98111
! 5%
2
Broughton J and Coupany
Dayton, Washington 99328
Shonn Corrinaton & Goomeny 2 321
c/o Trust Dopartment. ‘
P. 0. Box 3966
Seattle, Washington 98124 y 3, 34
! 5 shee ts — . f
Walter J. Punk * ‘ 2
1555 Magnolia Way N. UV.
Seattle, Washington 98199
ii $%
Nemphill Brothers, Inc. . ,
201 Doren Avenue Worth /
~ Seattle, Washington 98109
John A. Malone end Ancociates Tes . 6%
McKernan liardware & Impicuent Compeny 7
Pomeroy, Washington 99347
Philip A Padolford &%
Wachingtoa buildiug / .
Seattle, Washington 98101 .
Ralph J. Stowell - / 1.50 %
P. O. Box 3966 N
Seattle, Wachington 98124 * —
ne een 38.72 %
Toil , .
K-34-b
22,500.00 ©
Jr
— 2.22. T1007 10, 000. o0 .
22,500.00
27,000.00
2
18,000.00
6,750.00
$ 183 250.00
1493
928 or tne . : *
ron *
ac v. reed toes
—GX_K=35
MatenDe DP 1
APPLICATION TO OR 2GANIZE
4
‘A NATIONAL BANK AND |
<. <:|. REPRESENTATIONS OF APPLICANTS |
dated
: THE COMPTROLLER OF THE CURRENCY _ a
+ * Washington, District of Columbia
APPLICATION
. vE, THE UNDERSIGNED, intending to organize aod operate a national bank in accordance
wit the provisions of the National Bank Act, as amended, do hereby make epplication to the
— Mest she. shane.
1 p ton-to organize Sid netionat-benk, and prepose as follows:
1. That the main office Aalen hack be located ated cae Caer
2 W — emen (ollowing titles: °
.. K A e
ot ok
Aleta L Le. el. .
5 1494
277
Ser-. >
A ee oe -2-
4g toma, ites
ee ae ne Toul Considentin in $250,000
X That said national bank be authorized to issue AZ shares of capital stock, 2.
oel said shares to be issued in connection with the organization of said national bank for a total
consideration of $SZSOI20_ ; and the ¢ remainder of said — to be held by said national bank
as unissued shares. : . : ‘
4. That the total rn te ceĩved by said national bank for the shares issued ty ie be
allocated as 3 : : mee 8
i i e ay ae 132
„ rde, cel . pas
3 ute Pros eee a
*
*
.
-
—
—
F .
——— — — eee iw
„. That ee
- 2 e e ae 5 AB
- County of Stace of . , act as sole and exclusive
agent to represent and appear for the undersigned before the Comptroller of the C v. and to te ·
ceive all correspondence and documents, in respect of this application, in accordance with che
annexed appointment of agent. 5
REPRESENTATIONS
THE UNDERSIGNED, for the purpose of inducing the Comp of the G y to permit the
organization of the said national bank, upon the terms and conditions set forth in the aforesaid ap-
2 - plication or upon such other or additional terms and conditions as may be quired by the Comptroll
of the Currency, and with the intention that the Comptroller of the Currency shall rely upon the fol-
lowing, do, for the benefit of the Comptroller of the Currency, hereby jointly and severally *
Se en :
FIRST, that the undersigned, as N ot shareholders of the said national bank ot other-
wise, will not vote for of in any other mannet approve of ot consent to any sale by the said national
bank of any stock in the said national bank for any price other than $42 pet share, unless
the Comptroller of the Currency shall have approved the same in writing.
SECOND, that the undetsigned, as di or shareholders of the said national bank ot
otherwise, will not vote for or in any other mannet approve of or to any sale by the said
*national bank of any stock in the said national bank to or through any underwriter, broker, ot dealer,
ees ptrollet of the Ci WW
THIRD, — che vodersigned have not directly ot e paid to ot received from any e.
son, p „ OF i apd money ot other thing of value as a fee, commission,
ot other compensation lot any service dered ot to be rendered ot fot any property transferred ot to
de transfi ion with the organization of the said national bank, except as follows:
105
*
* tte or art MAMCISI OF ravctts REASON FOR PAYMENT pay oy *
— .....
“+ | Bree 3
FOURTH, that che undersigned are not directly ot indirectly party to any written or oral agtee-
ment or understanding to directly or indiectly pay to ot receive from any person, pattnership, as-
iation, oc corporation, any money ot other thing of value as a fee, commission, ot other compen-
+ sation for any service tende ted ot to be rend d ot for any property transfered ot to be transfered,
nis connection with the organization of the said national bank, except as follows:
1 . ” PATE ANO INT TO
MAMEIS) OF PAYORIS) NAMESISIOF PaYEEis) TERMS OF AGREEMENT W run
a D ....
55 iL . le, l
8 eee. S. 2 4 —
g
FIFTH, that the undersigned, as di or shareholders of the said national bank or other-
wise, will not personally pay and will not vote for ot in any other manner approve of, consent to, ot
participate in pay of any charge ot expense incurred by the undersigned ot the said national
bank in ion with the organization of the said national bank, unless the Comptroller of the
Currency shall have approved the same in writing and, in such event, the charge or expense will be
paid only by the said national bank out of funds of the said national bank. vay 3 5
—
SIXTH, that che undersigned are not acting in the premises as representative of or on behalf of
ot on behalf of any person, partnership, iation, or corporation undisclosed to the Comptroller of
the Currency, 8 ;
SEVENTH, that the undetsigned ace not directly ot indirectly party to any written of oral agtee-—
ment ot understanding providing for che undersigned ot any other person, partnership, association, or
. poration to directly ot indirectly purchase any stock of the said national back or providing for the
_ Sale, pledge, transfer, ot other disposition of any stock in the said national bank to be legally ot
equitably owned by the undersigned to or for the benefit of aay person, p hip, iation, of
Corporation, except as follows: ;
—
1496
— —— age
°
HAVENS OF UR OERREHCO Want W Sf OTHER PART Tete dat ano
PARRY TO THE AGH EMENT TO Tat *Grr ures TCAs OF AOHLA MENT
2 - 2 —
— — — . WF HOME, bo STATOR he v—
EIGHTH, that the undersigned are e directly of indirectly pony t say written of oral agree-
ment of understanding, undisclosed te the Comptrotier of the Currency, providing tor the sale of the
assets of the said nations! bank w. of merging lidating the said national back vith, any
other financial institudon. . ;
te .
NW. shoe ene undersigned acknowledge thot any misrepeesentarion or omis sion of » material
fact with respect tothe foregoing representations or with respect to any other documents u papers
Need Sy the wndersigned.co the Comptroller of the Cunency in connection with the organi ation
„e said national bank shall, unless expressly waived by the Comprrofics of the Currency, era-
Adee fraud in the inducement and be grounls for ccd of a national hank charter in this or any * ey
other waiter, geounds to require the resignation of the undersigned as sirectors of the said nacional
back, and may subject the undersigned to other legal sanctions, including those provided for in S-
tion 100i of Title 18 of the United States Code, >
IN WITNESS THEREOF, the undersigned have herevato set our hands ea the date set forth
above.
Typed Nene N “Typed Name
Typed Address 8 Typed Address. 8 —
See ‘Signa
Typed Name Typed Name . g
Typed Addre : Typed Address _—
Typed Nome : Typet Name
Typet Ackles — less 3 a
1.
3.
4,
5.
6.
or
. NA A MATICAL BN „ „ „ eee eee
County, Weshingten, Althoush it ie cestesplated thet the orca in which the
— bah ts to be leccted will be cancxed te the City of Kennovick,
population cata cn the three citics and the tve counties ie chown below:
~1250. 1250. Present Estimate
City of Kennevick Couaty) 10,100 14,200 15,500
City of Richlend ( * 21, e 23,500 „800
City of Pssco (Franklin County) 10,200 14,500 16,309
County of Seaton $1,300 62,000 67,300
County of Frerxlin 13,500 23,300 25,300
( Estinsted population of the service area from which the proposed bank is
expested te generate 75% or ore of its leans and deposite:
1950 - 60,000 1960 - 75,000 Preseat - 63, 000
(b) Tate crea extends cpproxinctely 35 miles north, 25 afles south,
20 miles anct c 20 miles amet.
Competitive benke and breaches located with the service area: See Schedule 1
— ; ; attached,
Dupiieste Wes of the Tri Citics area, showing lecation of preposed bank and
s on lescticas of ct bene cad bronehes: Sea attached maps.
ko cerial photosapoha ere cvailadle,
tieate read e235 outlining expected corviee eres: See atteshod maps,
Sevices end losa essoeistioans, Duilding end loan associations and mutual
scvings bonks lescted within the preposed service area: See Schedule II otteshed.
Creait unions, finsnse cocpcuies, insurance companies grontiag loans end other
stet cas great tag lesns vithiea the prepesod service ares:
Precent 2 yesre axe
Credit Uatons N . 5
- 5
Firscase Comsnaics 6 6
Insuzcese Comscaies : 1 a7
Other Institutions 6 * 6
Degree of fateasity of competition in the service area:
CSaviess & Loan Assosictione ist
mutual Ssviccs Banks * .
Crogit Vsions, ete, st 85
do survey uss cg preltetnary to the (Lling of thic cool tent ton.
1498
9. (A). Hones cro 95% oumer-occupicd, Housing cevelopaeat haz been rolativoly
steady over the post 15 yoars in all of tho three citics of Kennewick,
Paseo cad Richland, here sre of above avercjze quality, avercso price
level 819, ch. co, eversse age 15 years. Nucdber of unsold nsw hosos in
the Tri City crea - esproximately 60. Tron all irdicstions, tho —
coastructica of new hezes will continue inte the forescesdlo future,
(3) The principal industry is the Hanford Atomic Worko in Richland, Weshingtoa,:
_. @perated under contract by the — o antec:
Lstelle ertiwest Laboratories 1
f 7
u. 8. Testing ; sr
ing : *
1.7.7. Federal Support Services 83 . 22
> 7
Total coployment epprexinately 8200 .
Eat usted cnnual pcyroll $75,000,000, >
The construction industry in the three cities exploys an average 9
2000 verherc, S0Z of. When are spcetalists in their trado. Botimated 2“
eanual pgyrzoll $35,600,000.
The chegtegl ecolet cast of Keuncwick, consisting of Phillips cheatcal
— 9 Carvrea Ccueal Coomsay, Rerley Chemical coœany, Conoral
on Cas- lee Corporat ton, lc 200 workers. Estimated
nua! — $1,209,090.
The Boise Cosceze pulp cnd paper mill, 10 miles southecot of Pasco,
c=ploys 375 workers and is pleaning further 2 Preceat estizated
“ gxnual psyroil $2,200,000,
The Northora Pscific Railway, vith statioa office in Pasco end an ultra-
ern switchyard, e=ploys 539 workers, Estimated anaual payroll $3,700,000.
Yho “Big Pccee” worehousing erea has occupents coploying 860 workors.
Ectizated cancel payroll $6,000,000.
The Country Cardenas food processing plant sdjsceat to Passo oleys 350
regular workers cad edditional scasonsl workers, Estimated canual pay-
roll $1,452,000. 5 xe
Stat tet tes fron the Weshington Sate Exploysent office in Pasco show
$5.3% of che lebor force exployed during 1955, vhich ccapares fovorably
with the etcte cvorege. The labor force provices adequately the ceed
fer skilicd vorkers. .
(c) There cre co eajor chopping centers in the Tri Cities at the present tis.
@) A reeent curvey indicctes thst the populat ton growth in tho Tt Cities
cad surseending trot{ag eres vill continue, vith cn estiested 4% caaval
iseresse projected for the dent ten years.
Cround hos boon broken cad co — center is to da conatrueted,
where ca ultvoetodora esta>lichssnt vill be built, costing cn estimated
$5,099,090, coverics 20 care — contest. ting epprencicctely 50 retail
besiness outlets, with the Boa larche depurtesat store cad J. c. enney
po forming the nucleus. This fo where the proposed bank will bo
cated,
1499
oao-half alle fren the shopping center loceti
Now uncer construction in the chentca
timated annual payroll $700,000,
A recent enrouncesent stated thet a $1 efllion cold- storase
be constructed cdjacent to the chenical complex. Projected
is 459 workers, with ot taated casual peyroll of $2,000,090,
The treffie pattern to thio new ehepping center Zives good sccess fron
ell three of the Tri Cities, connceting by a good highway vith U. 3. 410,
, on. There are no geographical
barriers,
1 complex is a mtels processing
pleat for Scnévik Metalo, Inc., which vill ecploy 100 workera, Ez-
plont 10 to
c loycant
Apprexicatoly ose-hslf mile fron this shopping center, thore 10 now
wader construction a large Valu-éart departgent store, which will bsve
@ fozee of 159 exployees regularly, vith addicioaal e=ployrsat during
pouk mcrketing ccccons.
10. Fot applicable, . .
11. Read Office
12, » Kead Office
15. Pinercial position of arca to be served by Proposed dank:
City of Xeanewick City of City of Kennacwick
0 Dees Richlane Teseo Schooh Dint. School Dist,
Accessed Velustion 16,218 22,770 17,653 28,951 24,555
Des ca Nor dean 384 238 Seo $72
oo Berton County Franklin County
(G90 omitted)
Asscsecd Valuation 73,887 44,560
Sexes on 1967 Rolls 9.831 2.884
Unpsid tœges - 1966 269 2t4
Porsontage of 1966 c
texes collected 96 $3 7
. Major types of locatag decands Proposed bank expscts to serve;
Retcil dus toes :
Indivicucl (Personal, hege, Consumer Credit)
Acrteultural
LBosler Discounts
Real Estate Mortgage Loans
5. esd Office
6. reed Office
7. ec ottteo
8. Rosd Office
Riehlond
Pasco
S$eheol
29,501
1. 005
1500
TA CENTER RATIONAL BANK
Benton County, Washington
(Kennewick, Washington)
This report contains information as requested in the:
Summary. of Information to be Submitted to the Regional
Comptroller of the Currency Within 30 Days After the
Filing of an Application to Organize a National Bank
Revised April 1965
u The proposed bank would be located in an unincorporated area in Benton
County, Washington, approximately four miles from the cities of Kennewick
and Richland, and about 6 miles from Pasco in Franklin County, Washington.
It is contemplated that the area in which the proposed bank would be loc-
ated will be annexed to the city of Kennewick. Population data on the
three cities and the two counties mentioned is shown below:
** Estimated
* 1950 * 1960
4-1-66
City of Kennewick 10,106 14, 244 15,400
City of Richland 21.809 23,548 26, 500
City of Pasco 10, 228 14,522 16, 350
zo Benton County ö 51,370 62,070 67,300
Franklin County 13,563 23, 242 25, 300
Source: U. S. Bureau of the Census
Source: Washington State Census Board
2. (a) The proposed bank would serve an area including the three above-named
cities and portions of Benton, Franklin and Walla Walla Counties.
Shown below is our estimate of the population of the area from which
the bank would generate 75% or more of its loans and deposits:
1950 1960 Present
60,000 75,000 85, 000
(>) This area extends from the proposed bank location approximately 35
miles north; 20 miles cast; 20 miles south; atid 20 miles west. The
area is marked on Map Number 1 which is included with this report.
ode
1501
3. Information concerning competitive banks and branches located within the
*. gervice area is detailed on Schedule I attached.
4. Duplicate maps appropriately marked are included with this report. Map
Number 1 outlines the service area and relates it to the eastern port ion
of the State of Washington. Map Number 2 shows the three principal in-
corporated communities in the service area in greater detail and identifies
all commercial banking facilities located therein.
5. Information concerning Savings and Loan, Building and Loan and Mutual
Savings Banks located within the proposed service area is shown below:
: . Distance by
Date Road Mileage
Association or Established & Direction
Bank Name and (If Within Share From Proposed
Address 3 Years) Accounts Loans Bank
Washington Mutual Savings Rank
Kennewick Branch
218 West Kennewick Avenue
Kennewick, Washington Not Available 6 miles SE
“Fidelity Savings & Loan Association (Spokane)
Pasco Office
719 West Lewis f
“Pasco, Washington Not Available 8 miles E
First Federal Savings & Loan Association (Walla Walla)
Kennewick Office
West First Avenue .
Kennewick, Washington 3- 1-67 Not Available 6 miles SE
Walla Walla Federal Savings & Loan Association —
Kennewick Office g
30 Vista Way
Kennewick, Washington
a Not Available 8 miles E
Richland Office
1111 Jadein Avenue
Richland, Washington : Not Available 6 miles ]
Yakima Federal Savings & Loan Association
Pasco Office
507 West Clark e
Pasco, Washington Not Available “8 miles E
Richland Office
1333 George Washington Way
Richland, Washington . Not Available 6 miles KW
-2-
1502
6. Information concerning the number of types of financial insitutions
listed in the service area follows:
Financial
Institution
Present Three Years Ago
Credit Unions
Finance Companies
Insurance Companies
Other Institutions
arauw
oOrauw
7. We estimate that about 25 per cent of the loan volume generated in the
service area is developed by the savings and loan associations, the mutu-
al savings banks and the credit unions. Of these, about 15 per cent of
the total is generated by savings and loan associations, 5 per cent by
the mutual savings banks, and 5
per cent by credit unions and other mis-
cellaneous financial institutions. N
Included with this report are copies of a survey prepared by the South-
center Corporation (a division of Allied Stores, Inc.), developers of
what is now called Columbia Center.
This is the regional shopping center
in which the proposed bank would be located. This survey was obtained by
the bank's developers without cost.
—
a
9. (a) The proposed bank would serve an area which is popularly known as the
"Tri-Cities," namely, Richland, Kennewick and Pasco, Washington. In
addition, it would serve portions of surrounding Penton, Franklin and
Walla Walla Counties. lomes in the area are 95 per cent owner occupied.
Homes, generally, are above average in quality. The average price
level is $19,000. The average age of homes is about 15 years. 1/
Occupancy is high, and it is estimated that there are about 60 unsold
new homes in the Tri-City area. From all indications, the orderly
construction of new homes will continue in the foreseeable future,
and the demand for quality housing will remain high“
(d) rue principal industry in the Tri-Cities is the Hanford Atomic Works
in Richland, Washington, which is operated by the eight firms named
below, under contract to the United States Atomic Energy Commission:
Battclle Northwest Laboratories
- Computer Sciences Corporation
Douglas-United Nuclear Corpora
tion
General Electric Company ~~ ;
1/ Source: Association of Tri-City Realtors.
-3-
(e)
‘
1503
Isochem, Inc.
U. S. Testing Company, Inc.
Vitro Engineering Company
I. T. T. Federal Support Services
Exact employment figures are not available, but it is estimated that
these firms employ together, approximately 8,200 persons, and that
they have a combined annual payroll of $75,000,000. Each firm named
took over à portion of the Hanford Works previously operated by
General Electric Company. Each also committed to make additional
expenditures for production or research facilities to bring about
a diversification of the local economy through commercial applic-
ation of the technology developed at the Hanford Works. A high per-
centage of those employed in this work are college trained people,
many with advanced degrees.
The construction industry in the Tri-Cities employs an average of
5,000 workers, over and above the 8,200 employed by the firms listed
above. The estimated annual payroll for this latter group is
$35,000,000. .
East of Kennewick is a chemical complex consisting of Phillips Chemi-
cal Company, Chevron Chemical Company, Kerley Chemical Company,
General Chemical Company and the Gas-Ice Corporation. * Together they
employ about 200 workers with an estimated annual payroll of $1,200,000.
The Boise Cascade Corporation's pulp and paper mill, 10 miles south-
east of Pasco, employs 375 workers and-is planning further expansion.
Present .estimated.payproll is $2,200,000 anuually. .
The Northern Pacific Railway operates a station office and an ultra-
modern switchyard in Pasco. It employs 530 workers, and has an
estimated annual payroll of $3,700,000. 7
The “Big Pasco" warehousing area has a number of important tenants,
which together employ 860 workers. Estimated annual payroll is
$6,000,000. The Country Gardens food processing plant near Pasco
employs 350 year-round workers and has additional scasonal employment.
This plant has an estimated annual payroll of $1,400,000.
Generally, the businesses in the Tri-Cities employ technically trained
people. With few exceptions employment is non-seasonal in nature.
Statistics from the Washington State Employment Office in Pasco show
96.3 per cent of the labor force employed during 1986 which. compares
quite favorably with the state average.
Although at the present there are no major shopping centers serving
the entire Tri-City area, each of the three citics has a local retail
community. Ground has been broken, however, for an extensive
regional shopping center - called, Columbia Center, which is being
developed by a division of Allied Stores, Inc. The Center will cost
an estimated $5,000,000 and Cover 30 acres. It will contain approxi-
mately 300,000 square feet of retail floor space and 50 retail busi-
*
1504
nesses, and will provide parking for 3,000 to 5,000 cars. A Bon
Marche department store (division of Allied Stores, Inc.) and a J. C.
Penney store will form the nucleus of the Center. The development
will be similar to the Tacoma Mall, which has been open about a year
and one-half, and which is ahead of projections on sales.
It is in this Center that the proposed bank is to be located. Further
indication of the regional importance of the proposed Columbia Center
Shopping Center is revealed by comparing it to the Northgate Nisa
Center | in Seattle.
SALES V
ACTUAL ANNUAL SALES VOLUME
TE SHOPPING CENTER
Seattle, Washington
Bon Marche Other Stores Total
After First Full
Year of Operation $ 5,063,000 $ N/A $ N/A
(1950)
2nd 6,350,000 N/A N/A
3rd 6,463,000 N/A N/A
4th 6,580,000 10, 202,900 16,782,900
Sth 7,327,000 11,366,550 18,693,550
10th 9,220,000 _ 14,504,000 23,724,000
15th 15,896,000 21,700,000 37,596,000
| RBQUEGTED ASSUAL SALES VQUUME
COLUMBIA CENTER SHOPPING CENTER
. ’ | Kennewick, Washington
Bon Marche Other Stores Total
After First Full i
Year of Operation s 4,600,000 $ 3,900,000 $ 8,500,000
(1970)
2nd 4,800,000 6,000,000 10, 800 ;000
3rd 5,100,000 7,400, 000 12, 500, 000
4th 5,400,000 8,500,000 13,900,000
5th 5,700,000 10,000,000 15,700,000
10th 8,000,000 13,000,000 21,000,000
.
The Columbia Center development will bring about the closing of the
Ben Marche store in Richland. That store has been in operation for
more than twenty years, first as a C. C. Anderson Store, and subse-
quently, as a Bon Marche store. The J. C. Penney Company will close
its store in Kennewick and expects to close its store in Richland.
Both of these have been in operation for many years. These closures
will cause a major change in the shopping patterns of area residents
and should provide many potential customers for the proposed bank.
The Center will employ about 400 people. These employees and the
stores in the Center will provide further customer opportunities.
-5-
1505
No additional information is available at this time concerning tenants
in the Center, but a leasing program is now under way. The site of
Columbia Center was acquired in 1963 for the development that is now
under way. The location was chosen because there is excellent access
to it from each of the adjacent cities.
(d) A recent survey indicates that the population growth in the Tri-Cities
and surrounding trade area will continue with an estimated 4 per cent
annual increase projected for each of the next ten years.
The development of Columbia Center points out the confidence of major
retail firms in the potential of the region. It will be located with-
in easy driving distance from all three cities, connected by a good
highway with U. S. Highway 410 one-half mile from the shopping center
location. There are no geographical barriers limiting access to this
area.
In addition to this development, there is now under construction in
the chemical complex a metal processing plent for Sandvik Metals,
Inc. It will employ 100 workers with an annual payroll of $700,000.
It has recently been announced that a $1,000,000 cold storage plant
is to be constructed in this same area. Projected employment is 450
workers with an estimated payroll of $2,000,000.
Approximately one-half mile from this shopping center, there is now
under construction a large Valu-Mart Department Store (a division of
Weisfield's, Inc., a major Seattle discount merchandiser), which will
have a force of 150 employees - with additional employment being
required during peak marketing seasons.
, Not applicable.
—
rhe Tri-City area has long been a banking center for the south certral
part of Washington State, although it has not always been an economically
prosperous area. Early records are not complete, but it is known that
the Exchange Bank of Kennewick was fairly well established in July 1906.
By August of the same-year, the Bank of Pasco had opened its doors. In
1909, a year after a second state bank began operation in Pasco, the First
Bank of Pasco became a national bank. These benks struggled along for a
numbe: of years principally supported by the area's agricultural economy
and its railroad activities. In 1925, all three closed when they were
faced with a depressed local economy and a growing lack of confidence
from the citizens.
In 1914, the Security State Bank was organized in Richland. For the next
fifteen years it managed to stay open, but it, too, went out of business
in 1929. The only bank in the area to survive the economic problems of
these times, and the subscquent depression of the 1930's, was the First
-6-
—
1506
National Bank of Kennewick which had been founded in 1921. On July 1,
1940, it became the Kennewick Branch of the National Bank of Commerce of
Seattle and it so operates today.
In 1937, the Pasco Branch of Seattle-First National Bank was opened. On
May 1, 1944, the Seattle-First National Bank established its Richland
Branch. Five years later, on June 20, 1949, the National Bank of Com-
merce opened a branch to serve that same city.
The Mid-Columbia Bank began operation in Pasco on January 18, 1954. It
was acquired by Peoples National Bank of Washington on April 13, 1962 and
operates as a branch of that bank today.
Kennewick First National Bank was established July 2, 1956. Three years
later, on June 1, 1959, it became the Kennewick Rranch of Seattle-First
National Bank. Tri-Cities National Bank became the third banking opera-
tion in Pasco on November 17, 1960. Later, this bank op d its
Pasco office known as the West Side Branch. Shortly thereafter, on
July 1, 1964, both offices became branches of the Old National Bank of
Washington.
The Bank of Richland opened for business in 1963. On August 19, 1966, it
was acquired by the Old National Bank of Washington and now operates as
that bank's Richland Branch. The newest bank operating in the Tri-Cities
is the Kennewick National Bank. It began operation on March 10, 1965 in
Kennewick and is the only unit bank located in the service area.
12. It is proposed that stock ownership of the subject bank be placed in
— , strong hands and restricted to residents of Washington. Two-thirds of
the stock would be owned in the southeastern Washington service area of
the shopping center, at least one-third of the stock being owned within
the bank's service area. The balance of the stock may be owned by other
individuals around the state. There would be a total of about 40 stock-
holders. No stockholder would be an officer or director or principal
stockholder of any other banking organization. Organizers, directors and
officers would be eligible for stock within the general limits outlined
above.
13. The financial position of the service arca of the proposed bank is
reflected in the following figures:
CITIES
Kennevick Richland Pasco
Assessed Valuation $ 16, 218,000 $ 22,770,000 ~ $ 17,658,000
~-Taxes on 1967 Rolls 337,000 364. 000 338,000
‘SCHOOL DISTRICTS :
Assessed Valuation $ 28,951,000 $ 24,555,000 $ 29,501,000
Taxes on 1967 Rolls 969, 000 572,000 1,005,000
COUNTIES TOTAL
: nton - Franklin
Assessed Valuation $ 73,887,000 $ 44,560,000 $ 258, 200, 000
Taxes on 1967 Rolls - 4,831,000 2,854,000 : 11,270,000
Unpaid Taxes - 1966 289,000 2864, 000 N/A
Percentage of 1966 : . d
raxes Collected 96% 93% N/A
ae,
”
14. The proposed bank expects to generate the majority of its loans in the
commercial and real estate fields. There should be opportunities to.
make direct instalment credit loans, and some small dealer relation-
ships may develop if such firms become tenants of the Center. An op-
portunity might also develop to wake some agricultural loans. on the
accompanying projections, these have been included in the commercial
loan total. ö ( —
25. The estimated statement of condition at the end of the first, second and
third years is show: on the following page. Included in the demand
deposit totals are $100,000 of public funds in each of the three years.
16. Following the statement of condition is a projection of earnings and
expenses for the first three years of operations, pages 10 and 11.
-8-
Cash & Due From Banks:
Due from Domestic Banks $ 50
Transit & Clearings 62
Federal Reserve Requirement
and Cash 107
Total Cash & Due From Banks $ 219
Investments 900
Loans: ;
Commercial $ 150
Instalment 4 100
Real Estate 150
Total Loans $ 400
Other Assets:
Fixed Assets $ 50
Federal Reserve Stock 11
other 3
*
TOTAL RESOURCES $ 1 583
LIABILITIES & CAPITAL .
oh —
‘Deposits: :
Demand $ 780
Time : . 420
Total Deposits 2 $ 1 200
Other Liabilities a 3
Total Li abilities $ 1 203
Capital $ 250
Surplus 125
Undivided Profits |
Total Capital Funds. $ 380
TOTAL LIABILITIES & CAPITAL $
Year
(Thousands)
$ 50
86
151
$ 287
1 110
$ 250
200
250
$ 700
$. 30
11
—
$ 2 161
$ 1 080
720
$ 1 800
$ 1 803
$ 250
125
7)
$ 358
8
1509
ESTIMATED STATEMENT Or, INCOME & EXPENSE
First Second Third
INCOME Year Year Year
(Thousands)
Interest Earned on Investments $ 20 600 $ 47 300 $ 56 700
Interest Earned on Loans: : :
Commercial $ 5 600 $ 15 000 $- 24 400
Instalment = 4 500 13 500 22 500
Real Estate - _4 900 13 000 19 500
$ 15 000 $ 41 500 $ 66 400
Service Charges: ;
Deposit Accounts $ 2 100 $ 4 900 $ 6 500
Instalment Loans 4 000 12 000 20 000
Real Estate Loans 800 2 000 3 000
$ 6 900 $ 18 900 $ 29 500
Other Income:
Safe Deposit Boxes 800 900 1_000
Total Income S 43 300 108 600 $ 153 600
EXPENSE
Salaries $ 49 200 $ 54 000 $ 58 800
Payroll Taxes . 2 300 800 3 100
Employee Benefits, Med. Life Insur-
ance, Salary Continuation 1 500 1 500 1°550
Occupancy: ‘
Rent & Depreciation & Insurance 8 25 100 $ 25 100 $ 25 100
Janitor Supplies & Service 2 800 2 800 2 800
Light, Heat, Power & Water . 1 200 1 200 1 200
Maintenance & Repairs 1 000 1 000 1 000
Total Occupancy 0 4 N 8 30 100 $ 30 100 8 30 100
Equipment:
Maintenance & Repairs - $ 780 $ 780 $ 780
Rent Equipment 1 620 1 620 1 620 :
Cartage & Express 50 50 50
Total Equipment $ 2 450 $ 2 450 $ 2 450
Stationery, Supplies & Postage: ö 5
postage ; $ 900 $ 1 600 $ 2400
Check printing 1 800 1 800 2 500
Stationery & Supplies 6 « 2 250 3 000
Total Stationery, Supplies & Post. $ 9 $ 5 650 $ 7 900
-10-
Other Expenses:
Advertising
Bookkeeping
car fare & Automobile
Directors Fees
Donations
. Dues & Subscriptions
Entertainment Customers
Employees Staff
Examiners Fees
F. b. I. C. Assessment
Insurance
Legal & Professional
Telephone
Sundry
Total Other Expenses
Interest Paid on Time Deposits
Total Expenses .
_ OPERATING PROFIT (LOSS)
*
ii
wv @&
BEE Es
1511
7. No negotiations have been started for a banking house. It is antici-
pated that the bank would be located within a major Shopping Center
Building containing several business offices. It would face on an air
conditioned mall as well as on the central parking lot.
It is estimated that about 5,000 sq. ft. of space would be required and
that a lease for this space would be negotiated with a subsidiary of
Allied Stores, Inc., developer of the Center. The Shopping Center is
expected to be completed by July 1, 1969 and the bank would be opened
dy that time. In the profit and loss projections, we have anticipated
a lease payment of 85. 00 per sq. ft. per year on 5,000 sq. ft. of space
resulting in an annual rental of $25,000.
18. Funds to be collected from stock subscriptions would be deposited in
escrow with a metropolitan bank and fidelity insurance would be obtained
as required.
Bank or Branch
(thousands)
r
West First
Kennewick, Washington Established 3-10-65
Qld National Bank of Washington
Tri-Cities Branch 5,156 ** N/A
1115 West Clark
Pasco, Washington
West Side Branch „ N/A
Chase & Court Streets
Pasco, Washington g
Richland Branch 5,192
N/A
711 Jadwin Avenue
Richland, Washington
Peoples National Bark of Nashingcon
‘asco Br - ‘ 4,367 N/A
203 North Fourth
“Pasco, Washington
nk of e
Kennewick Branch 12,171 N/A
23 West Kennewick Avenue 4
Kennewick, Washington
Richlend Branch
1340 Jadwin Avenue
9,328 N/A
Richland, Washington
Seattle-First National, Bank
Kennewick Branch 5,158
Vista Way
_ Kennewick, Washington
N/A
Pasco Branch 15,793
400 West Lewis
Pasco, Washington
N/A
Distonce by Estimated
Road Mileage Share of
and Direction Mortgage
From Proposed Loan
— ——
SAE Business
6 miles SE Nominal
7 miles E In
7? miles E Nominal
6 miles NW N
8 miles E 4
6 miles SE 161
6 miles . —
4 afles SE 7
8 miles E 202
1513
I
~cont inued-
Distance by Estimated
Road Mileage Share of
and Direction Mortgage
Bank or Branch 12-31-66 From Proposed Loan
Name and Address * Deposits Loans Bank Business
. (thousands)
Richland Branch $ 15,631 N/A S miles NW 24%
507 Knight
Richland, Washington
* All offices listed, except Kennewick National Bank, were established more
than three years ago.
** Consolidated figures for “Tri-Cities Branch and West Side Branch of Old
National Bank. :
N/A Figures not available.
1. 4% passbook interest is paid on all Savings accounts and variable rates up
to SZ on savings certificates is paid by all banks and branches.
2. Instalment loans made by all banks shown vary from 8% to 104% and rates on
short term business loans vary from 7% to .
3. All banking offices observe the following hours: Monday through Thursday
10:00 a.m. to 3:00 p.m; Friday 10:00 a.m. to 6:00 p.m.
4. The rate of return on capital and the loan to deposit ratio were not
generally available, and therefore, were excluded from this schedule.
-14-
—
1514
9 NATION” L BANK OF COMMERCE O} SEATTLE Gx Bes
. COf y : ' Buck Dep, Ex. 1
Loney Dep. Ex. 1 :
December 29, 1967
Mr. Dean W. Loney
Loney, Westland & Raekes
P. o. Box 6125
$9336
Dear Mr. Loney: :
This letter {s written to clarify the relationship
between the National Bank of Commerce and the organizers of
the proposed Columbia Center National Pank.
As you know, there is not now, and never has been,
any written or orel agreement or understanding between and/or
among the organizers and the National Bank of Cormerce of
Seattle with respect to acquisition or the proposed bank.
Upon advice of counsel we have been extrenely (perhaps exce:
sively) cautious to avoid this. Therefore, we feel there is
nothing requiring disclosure under tho provisions of Para-
greph “Seventh” of the application.
rency by copy of this letter. We have previously discussed
N this orally with the Regional Ceœrptroller, hr. Kenneth
*. .
The etockholders will include several directors and
one active senior officer and director of the National Bank of
Commerce. The latter will retire from the National Bank of
and from its board prior to opening of the new bank,
then stand for election to its board. Another of the
rectors of the new bank will also be a retired National Bank
Coumerce senior officer. The majority stock will be in
dendly to the National Bank of Commerce in order to
wuch as possible its future as a branch of chat bank,
avoid certain legal problems which could arise if it were
to agree or contract with respect to its ecquisition.
71
|
1111
— 01 ee
gory
1515
a NATIO\ L BANK OF COMMERCE OF 3EATTLE
e *
—
*
Mr. Dean W. Loney = 2 . +» December 21, 1967
The National Bank of Commerce has furnished ass st-
ance in developing and presenting economic data in support of
the application. It is assisting in negotiations with the
landlord for quarters and is responsible for obtaining the
exclusive offer of space for this new bank within the shopping
center being developed by the landlord. National Bank of Co-
encounter when the new bank opens in tho Columbia Center
National Bank of Commerce will agoiet the new bank in
its investment, credit, operating, audit and personnel problems,
as well as becoming its principal correspondent. In short,
National Bank of Commerce is willing to do anything it is
legally able to do now and in the future to insure the success
of the new bank.
Sincerely yours,
Robert F. Buck
Senior Vice President
Mr, Kenneth M. Leaf
Regional Administrator of National Banks
Thirteenth National Bank Region
813 SW Alder St., Room 601
Portland, Oregon 97205
Dear Mr. Leaf:
We are pleased to enclose in triplicate, the follow-
ing docunents: 8 :
1. Amended Application to Organize Proposed
Columbia Center National Bank
2. Appointment of Arent.
You will note that we have added the additional
names of Wylie Niller Hemphill, Ralph John Stowell,
Wilbur Harold McGuire and Charles J. Broughton as
applicants for the formation of the proposed
national bank.
Under separate cover we are forwarding you the
financial reports and biorsraphical information
concerning, each of the new applicants.
We further wish to call to your attention the
attached copy of letter from Robert P. Buck, Senior
Vice Presider.t of the National ank of Commerce,
which we trust clarifies the relationship between
National Bank of Commerce and the organizers of the
proposed new national bank,
We further wish to point out to you that inasmuch
as the new members have been added to the application
that the 40 percent sure set forth in my letter
of December 7 is perhaps inaccurate at this time.
The 40 percent figure mentioned in wat letter did not
include the list of applicants attached to the letter
1517
Mr, Kenneth u. Leaf = page two
who have now become organizers,
We attach a copy of a letter, in triplicate, from
Allied Stores Corporation Signed by Mr. M. E.
Boys, in which they ask that we take all steps
to attempt to obtain permission for the bank,
In view of the urgeney of the plans of Allied
Stores Corporation, we will make every attempt
to furnish you additional information as you
may require and we welcome the opportunity to
meet with you in Portland at your convenience,
if we can be of any assistance,
We are also sending you under separate cover an
Economic Analysis of the Tri-City Area prepared
by Mr. Bertrand Field, Economist,
If you need additional information, please
let me know,
Yours respectfully,
LOREY, WESTLAND & RAEKES
1518
~ GX K¥38
NATO .'. BANK OF COMMERCE OF 5 EATTLE.
January 15, 1968
Mr. Kenneth W. Leaf
Regional Administrator of nat tonal Banks
Thirteenth National dank Region
813 8. u. Alder Street, Room 601
Portland, Oregon 97205
Dear Kon: -
Subject: Colurbſa Center National Bank
Tou will find enclosed amended forms for Mr.
Hemphill has prepared and we have typed explanations of
those differences you found on his forss, but he is out
of town wntil Thuredoey of this week at which time we will
get these in the mail.
Mr. Loney 10 obtaining the additional informa-
tion you required from Mr. Broughton.
If there is anything further you need befora
proceeding, please give me a ring. All good wishes.
Cordially,
Robert F. Buck
Senior Vice President
tus
5 January 17, 1968
Mr, Kenneth ud. Leaf 5
Regional Administrator of National Banks :
813 SW Alder St., Room 601 .
Portland, Oregon 97205
Dear Mr. Leaf:
Re: Columbia Center National’ Bank
We are enclosing the Biorraphical Reports
in triplicate for Mr. Charles J. Broughton.
It will be noted that the Biorraphical Reports
have been changed and initialed by Mr. Broughton
to furnish the additional information.
We are also enclosing an Affidevit signed by
me relating, to the financial and biorraphical
information perviously submitted.
Very truly yours,
LONEY, WESTLAND & RAEKES -
| < es 42 r
DWL/bdc By? so 7
cc: Robert Buck 5
. National Bank of Commerce
? Seattle, Washington - :..:-
1520
GX K-40
0 on age © NATION L. BANK OF COMMERCE OF KATE
CORY.
‘ *
January 18, 1968
Mr. Kenneth W. Leaf
Regional Adminictrator of National Banks
813 S. W. Alder Strect, Room 601 -
Portland, Oregon 97205
Dear Ken:
Subject: Columbia Center National Bank
Hr. Wylie Hemphill hae returned and his amended
forms are enclosed herewith. .
Mr. Boys of Allied Stores has agreed to write a
letter extending the deadline on tho invitation to be in the
Center. I shall forward that as soon as it is recoived.
In accordance with our conversation yesterday, Mr.
Carrington 10 preparing biographical and financial {nforma-
tion which we will forward as soon as ho hao chase comploted,
But, if it will be necessery for you to defer further process-
ing of the epplication pending receipt of his data, wa would
prefor to leave him out ae an organizer at the present time
and have him join ae a stockholder later. We do not want to
cauce any further delays,
Thanks for your coneideration and your counsel.
Sincerely,
Robert Y. Buck
. Senior Vice President
RB:
Enclosures
ect Mr. Dean . Loney
Kennewick, Washington
1521
. & Bad
/ „
THE REGIONAL ADMINISTRATOR OF NATIONAL BANKS
"THIRTEENTH NATIONAL BANK REGION
O19 GOVTHWEST ALDER STREET, ROOM (.
PORTLAND, CALOON 07200
January 19, 1968
Mr. Dean W. Loney 2
Attorney at Law Ros l 8
Post Office Box 6125 bese 5 . 5
’ Kennewick, Washington 99336 ae
» os aaa
Dear Mr. Loney: ieee
This is to formally acknowledge receipt of the reapplication
to organize a new national bank in the Columbia Center, Kennewick,
Washington. Within a few weeks an examiner will contact you
relative to conducting the fie ld investigation.
Very truly yours,
e .
* KENNETH W
Regional Administrator of National Banks
1522
GX K-42-a
LONEY, WESTLAND & RAEKES
OCAN dont . sen ATTORNEYS AT LAW : amen 0066 606
eren . OOK Giese TELEPHONE Beene
PHILIP mM. RACKES ö 200 WEST KENNEWICK AVENUE 0
JOnN . en . eM WMC, WASHINGTON 99336
January 22, 1968
Mr, Kenneth . Leaf
Regional Administrator of National Banks
813 SW Alder St., Room 601
Portland, Oregon, 97205
Re: Columbia Center National Bank
Dear Mr. Leaf: :
Under separate cover we are forwarding a copy of the year
end edition of the Tri-City Herald, which we hope will
be of help to you in reviewing the application for the
new bank. ;
By copy of this letter to Mr. Buck, I am asking him to
forward the additional copies that he has in his file.
The Atomic Energy Commission has just announced the pro-
posed shut down of B Reactor at the Hanford operation at
the Hanford location. ‘
We have discussed the effect of this shut down with Mr.
Bertrand Field, the Economist who prepared the study for
our organization, :
“Mr, Field assures us that the consequences of this shut
‘down will be trivial. He directed our attention to
Assumption No, 1 in his report, in which the possibilities
N of a shut down of the Reactor were anticipated, but he
further assures us that the start up of a fast flux reactor
and the announced expansion at Battelle Northwest Labora-
tories will off-set any job changes and that his forecast
for 1970 remains substantially the same. —
1 acknowledge receipt of the Biographical Information
concerning Mr. Anderson and will make the changes and
return to you, „ ‘
Yours very truly,
DWL/bde
1
cc: Mr, Bertrand Field
Mr. Robert Buck 5
‘Mational Bank application.
1523
GX K-42-b
* | NATION. . BANK OF COMMERCE OF rr
January 24, 1968
Mr. Kenneth W. Leaf
Subject: Columbia Conter National Bank
In accordance vith our conversation we are enclosing
a couple of copies of the year-end odition of the Tri-City
Herald. This 16 a pretty impressive chronicle of grovth. As
Austen. @ lot of confidence in the future of the Tri
ares.
Pie add these to your file on the Columbis center
Sincerely, .
8
1524
GX K-43-a
qunn rane “« NATION. BANK OF COMMERCE OF EATTLE
Mr. Dean M. Loney
Loney, Westland & Raekes
P. O. Box 6125 .
Kennewick, Washington 99336
Dear Dean:
Subject: Columbia Center National Bank
Following your instructions we ere enclosing the
following: ,
(1) Three copies of the Form 1955-1, Supplement
to Application to Organize a National Bank.
Please note we have typed all names for
(2) Three copies each of Mr. Glenn Corrington's
biographical and financial statements and
accompanying exhibits, cupporting Schedule E.
We aro sending these to you te look over and to get
additional simmnatures after which they car be sent on to
Leaf. Tho third copy is for your own file.
the
Ken
Today we received the copy of Marvin boys“ letter
giving us a 30-day extension on the space. Presumably you
will two copies of that letter to Ken Leaf along with
the roh of this stuff!“ ‘
TE there fo anything cleo we ten provide, let we tnev.
Kind regerde, *
1525
GX K-43-b
ALLIED STORES CORPORATION
401 FIFTH AVENUE ; ꝗ—— é
NEW YORK - JAN 25 1968
— Reply to: P. ©. Box 2232
Seattle, Washington 98111
Mutual 2-1604
January 24, 1968
Mr. Dean M. Loney
Columbia Center National Bank
Loney, Westland & Raekes
7. O. Box 6125
Kennewick, Washington 99336
Dear Mr. Loney: :
It is apparent from a recent conversation I had that your charter
will not be approved by January 22, 1968. You have asked for an
additional 30 day extension. :
I, therefore, grant’ that extension of time so the termination date
of this agreement will be February 22, 1968, per your request.
1526
.
*
5 GX K-44
2 — LONEY, WESTLAND & RAEKES 7
Le ATTORNEYS AT LAW
— — f n 5 — ne sence
et. 200 west
KENNEWICK, WASHINGTON 99336
January 26, 1968
Mr. Kenneth Leaf
Re Administrator of National Banks
teenth National Bank Region
813 SW Alder Street, Room 601
‘Portland, Oregon 97205
Re: Columbia Center National Bank
Dear Mr. Leaf:
We enclose two copies of a letter from Mr. Boys
extending the time for our lease until February
22, 1968. :
The additional information you have requested
is forthcoming shortly.
Yours very truly,
LONEY, WESTLAND &~“RAEKES
1527
GX K-45
LONEY, WESTLAND & RAEKES
= ATTORNEYS AT LAW
— * . n 1 —
eme tts FOO WEST KENNEWICK avEeNUE
sonn 1, MOBSON, JA. KENNEWICE, WASHINGION 99336
January 30, 1968
Ralph J. Stowell
National Bank of Commerce
PO Box 3966
Seattle, Washington 98124
Re: Columbia Center National Bank
Dear Mr. Stowell:
We are enclosing a copy of the letter received from
Mr, Anderson advising that he has taken a position
with another bank and also a copy of the letter from
Mr. Leaf, concerning the filing of an application by
the L. E. Babcock Group.
We are also returning the three copies of the Biograph-
ical Information submitted by Mr. Carrington, In re-
viewing this, it would appear that the answers given
in response to Section 9c, concerning other bank rela-
tionships should be enlarged to include all checking
and savings accounts that Mr. Carrington maintains,
Under the instructions it requires information con-
cerning al) hanks and similar financial institutions
such as building and loan associations, in which a
relationship was maintained as depositor borrower,
shareholder, or director, It appears on Schedule A
of the Financial Information, Mr. Carrington has
savings and checking accounts with the National Bank
of Commerce and also two Savings certificates. If
you would ask the secretary who prepared the report
to change this pare containing Schedule 9c, we could
then insert it and forward the originals for filing
with the Regional Administrator, —
If you ‘have any questions, please call.
Yours very truly,
LON t WESTLAND & RAEKES
DWL/bdc By
1528
GX K-46-a RECEIVED
FEB 5 Wee
LONEY, WESTLAND & RAEKES
wenn ee went ATTORNEYS AT LAW b Otek ons
JON A. WESTLANO * © SOx G28 TELEPHONE Ser->.
Preire Mm. RACES 3OO WEST KENNEWICK AVENUE
JONN 1. ROBSON, UR. KENNEWICK, WASHINGTON 99336
5 February 2, 1968
Mr. Ralph J, Stowell
National Bank of Commerce of Seattle
PO Box 3966
Seattle, Washington
Dear Mr. Stowell:
Enclosed please find a copy of a letter from
ur. Leaf advising that it might take several
months to process our application.
Yours very truly,
LONEY, WESTLAND & RAEKES
—— 2 we ee
Vdde
211
117
id
Hi
i i
11
f
i
1529
GX K-46-b
THE REGIONAL ADMINISTRATOR OF NATIONAL BANKS
Re: Application to organize a new national bank in the Columbia
Center, Kennewick, Washington
dear Mr. Loney:
Receipt is acknowledged of letter of January 26 informing
us that the t for space in the center for the bank will
ry Va
. Regional Administrator of National Banks
* me
1580
GX K-47
*
. —
INTER OFFICE CORRESPONDEN
BRANCH _ CORR 001
SUBJECT
pate February 28, 1968 ~ . THE NATIONAL BANK OF COMMER
* 90 : 4
To Mr. rr entra Ir.
Chairman of the Board g
HEAD OFFICE RECEIVED
* ol FEB 29 1968
Dear Andy:
J
Due to the lateness of the hour after attending the luncheon
sponsored by the Bon Marche, this letter will reach you not much later
than a telephone call.
The luncheon was attended by a very small group, consisting
of Mr. Boyce (7) of Allied Stores, a representative of the John Graham
& co., architects, Maurice Smith, manager of the Bor Marche in Richland,
Glenn Lee, publisher of the Tri City Herald, Tom Black, manager of
Benton County P.U.D., Boyd Southwick, executive manager of the Chamber,
Mar Winegar, Kennewick City manager, and Bert Field, economist for
Douglas United.
3 Mr. Boyce stated that within three weeks invitations for bids
will go out for construction of the portion to be occupied by the Bon
Marche and that architectural drawings are progressing whereby other
bids will be forthcoming and that they are still confident that the
completion date will be in mid-1969. Various questions came up as to
the tenants and the center should have 60 tenants to begin with,
room for expansion in the disteat future, if necessary.
Mr. Lee brought up the subject of the banking faci
Mr. Boyce was emphatic in stating that he was quite distur
charter had not as yet been granted and he could not undergtand the
reason for the delay, as he understood that there were scyeral appli-
cations. He did state that his people had a preferance,/and I have
no doubt but that all present knew that he was referring to National
Bank of Commerce. :
After the luncheon, I visited with him briefly and stated that
we also would like to know what is delaying the granting of a charter.
He stated that he was in contact with you and Bob Buck quite regularly,
but that if there was anything he or his officials could do, they would
be most cooperative.
ae
1581 .
Page 2 The New onal Kank of Commerce of Seattle
ur. Andrew Price, Jr. February 28, 1968
~
*
Bert Field stated that Mr. Boyce would like to have a copy
of the survey he had prepared and I told him that I did not have one, t
so possibly it would be well if you would make one available to Mr.
Boyce if that is permissabic.
The word “politics” was mentioned by Mr. Boyce, so apparently
he thinks that if there are any strings to be pulled, we should not
hesitate to do so.
Sincerely,
oy
Vice President and Manager
1532
GX K-48 -
LONEY, WESTLAND A RAEKES
e 8, 1968 MAR 11
.
Mr. Kenneth M. Leaf
‘Regional Administrator of National Banks
813 SW Alder Street, Room 601 8
port land, oregon 97205 5
Re: Columbia Center National Bank
Dear Kr. Leaf:
We enclose a copy of letter from Mr. Boys :
dated arch 6, 1968, expressing their problems
in connection with the desinn and constructicn _
1 of the facility at the Columbia Shopping Center.
0 We certainly realize that you have rany things
to ons zd r bet wc stand ready to assist yvev
in any way possiole in furnishins aaditional
inforration to you in order that we can help -~
solve hr. boys“ problems and, if possible,
: proceed with the design and construction of .
1 the Columbia Center. :
I certainly appreciate your courtesies and
will look forvard to being able to furnish
any additional information that you may
require,
a Yours respectfully,
‘ LONEY, WESTLAND &
DWL/bde By:
‘encl:
ec: M. E. Boys
Andrew Price
1533
* - 5 RECEIVED
a „ MAR 7 1968
March 6, 1968
Mr. Dean V. Loney ca :
Columbia Ce:ter ational Bank oe
Loncy, west land & Raekes
p. O. Box 6125
Kennewick, Washiagton 99336 ·
Dear Mr. Loney:
I am sure you are aware that we are poing out for bids today on
The Bon Narche Columbia Center with the rest of the ceuter to be
bid witiin the next three becks. We are present ly on schedule
and I anticipate opening tuts center in July of 190).
You have asked for an extension of time on the consideration of
your having to wait for a cecision oa tue charter. I uacerstand
you wish me to give you an additional sixty cays wich woulu
be April 22, 1955. 1 am hereby graut ing this extcnsioa on the
basis that if you are successful in being awardes tae charter
for tnis location, you will plas on having your facility open
for business not later than June 1, 179.
At the present tim: we are of the opinion that cic dank building
should _ de free stan ing. Main, chis is soaetuinn you may not
necessarily anree vith. we are preseatly weil cicatz witu our
leasing progred aw in two months I am sure ve vill provabdly
have tne center 35, leasec. It will oe very sara for us to
hold sufficient spece available oa tue mall for tae bancing
facility based on this celayed schedule. So it would appear
that a free standiac facility will se necessary.
I am, therefore, nzraating tals exteasion to April 22, 195, and
I am hopeful we will not nave to wait taat loug for a cecision
because it docs cause us cousideradle hardships ia our planning.
It is necessary trat ve have the bank opea previous to t.ic
openiug of ‘tne center. At tac present time we waveu't even
decided on the architect or done any piaaning for such a ouilding.
Very truly yours,
AMEO CORPORATIC..
H. E. Boys
: Vice President
MEB: sj
cc khr. Rex Allison
Mr. Andrew Price
PPP A ³¹ A SALLIE DEL MI AA MEA VES
1534
GX K-49-a
ION Ex. WESTLAND & RAEKES
ATTORNEYS AT LAW
DCAN Ww. LOONEY ant COOL 600
JOHN A.WESTLAND N O. don ,t VELEPHONE ter-
unte . RACKES 300 center AVENUE
JOHN *. RONSON, JR. KENNEWICK, WASHINGION 99336
March 14, 1968
Robert Buck
Senior Vice President
National Bank of Commerce
PO Box 3966
Seattle, Washington 98124
Re: Columbia Center National Bank
Dear Bob:
Enclosed is copy of statement from Bertrand
B. Field in the sum of $1000. How would
you suggest that we handle this, Should we
each advance a percentage of it?
I would appreciate your advice in this regard.
Yours very truly,
n. WESTLAND & RAEKES
“
By / >
DWL/bdc
Sa A 70 ie ‘ . a e. 1 Dron 4 4 7 pe
LO IRS Se” 5 1 5
5 8 / 5 ° ‘Pe
+7 (iad atu lee %%% Kr SS
(bu f4E e c 5. Syriac’ M. . 55
1535
GX K-49-b
* BERTRAND 8. FIELD
ge 2316 ENTCAPRISE da.
° RICHLAND, WASH. 99352
Mr, Dean Ww. Loney : ws
Loney, Westland & Rockcs
300 W. Kennewick Avenue
Kennewick, Washingtan 99336
Economic research & consulting Services rendered to
Orgonizers of
Columbie Center Nations) Bank
!! ⅛ð2 SOUT MACIIG SS MIO lB
OCAN w. (oc
JOHN A.WESTLANO
PHILIP Mm. RACKES
—
JOuN T. ROOSON, JR,
1536
5 LONEY, WESTLAND & RAEKES
5 ATTORNEYS AT LAW ee
. O. BOX eee
300 WEST KENNEWICK tot
KENNEWICK, WASHINGTON 99336
March 14, 1968
Mr. Robert Buck
National Bank of Commerce
PO Box 3966 :
Seattle, Washington
Re: Columbia Center National Bank
Dear Bob:
This is to advise you that I received a call
from Morris Smith, one of the incorporators
of the bank, advising that he has been offered
an opportunity to manage the Bon Marche in a
large shopping center in Ogden, Utah, and he is
therefore taking this opportunity and will be
moving from the Tri-City area on Friday, March
15, 1968,
The local bank examiner, Mr. Leonard Davis,
has been advised of this fact and he is changing
the file to show that Mr. Smith will, continue to
be a proposed organizer but will no longer be a
proposed director, . N
I also reteived a call from Mr. Erickson advising
that the 85) per square foot was a reasonable
figure t se as rental in the Center, This
information was conveyed to Mr. Leonard Davis.
He was also advised that this figure would be
in addition to the tenant improvements necessary
kor the operation of the bank. If for any
reason this is incorrect, would you please 5
let me know.
Very truly yours,
2. WESTLAND & RAEK ES
DL / bd e
ARCA cot soe
TEL CPHONE e
1537
, GX K-5l-a
LONEY, WESTLAND £ RAEKES
DEAN . LONEY . ATTORNEYS AT LAW Pre
7 8 . ©. Box o128 A CODE Soe
— 300 WEST KENNEWICK AveNde TELEPHONE Kez. rte:
KENNEWICK, WASHINGION un
March 20, 1968
Mr. Kenneth M. Leaf
Regional Administrator of National Banks
813 SW Alder St., Suite 601
Portland, Oregon 97205
~~
Re: Columbia Center National Bank
Dear Mr. Leaf:
« Enclosed for your files is copy of commit.
ment letter of hr. Robert Buck,
Thank you,
Yours vory truly,
LONEY, WESTLAND A RAEKES
DWL/bde by: Aste ow] .
5 encl:
cc: Robert buck
1538
~ GX K-Sl-b
THE NATIONAL BANK OF COMMERCE OF SEATTLE
You and I have discussed by telephone my conversations
last week with Mr. Leaf with respect to management of your pro-
light of Mr. Richard Anderson's decision to
In brief, for the record, we have
committed the National Bank of Commerce to supply for the
proposed bank such management as will be satisfactory to the
Comptrollers of the Currency. If this requires assigning
Someone from our present staff we are prepared to do so. It
is wy understanding that the Comptroller will not now, therefore,
require the name of the proposed Chief tive in order to
finish processing the application for the charter.
t it will be helpful in the Comptroller's consideration /
of the a you are authorised to furnish him with a copy
of this letter in attestation of our agreement.
: Sincerely,
0 .
*
af
s The’
a National
SECOND AVENUE AT SPRING STREET. Bank of
; . woes cote 206 Ain 2.0101 Commerc
Head Office. „ of Seattle
Mr. Dean W. Loney
Loney, Westiand & Koontz
300 Kennewick Avenue
Kennewick, Washington 99336
7
Dear Dean:
Enclosed in extreme confidence is a photocopy of
the resume on Richard E. Anderson, President of The First Bank
ef Cordova. I first met and was impressed by Dick at the
1
the opportunity to observe him and came to the conclusion chat ‘
‘he might be the kind of man for whom we are all looking. 1
you please look over his qualifications and
‘ments. Perhaps you would like to discuss them also with
Wat, although all of this must be done
4
b
As you can see from his picture, he is an engaging N
personality. His wife also is quite personable. Dick's manner
is easy and friendly. He is articulate, speaking clearly and
plainly. In brief, I think he would make a good man for our
branch system.
His present bank had deposits of $4,237,000.00 as oft
the end of the year. Dick Borer, the Chairman of the Board,
has relinquished most of the day-to-day operations of the bank,
eo Dick Anderson should be familiar with what would be required
of hin. I admit his experience has been short, but I think with
the assistance we could give him on investments, personnel, etc.
he probably would get along well. .
Dick plans to make e« trip to Chicago the first of July
and could stop off for an interview going or coming. However,
it might be ve could fly him down especially if it isn't possible
to wait that long.
—
°
es
rn
— —
Mr. Dean W. Loney - 2 June 1, 1967
Meanvhile, I learned from Andy this morning that
the statistical information has not yet gone forward to you,
but we are in the process of getting it together. A
. I will try-to keep you better informed now that I
am home agaif for a while.
1541 —
GX -e
Uke First Bank of Cordevy
— Cordovn, Alaskhu 9957%
WWE - Richard k. Anderson
E 32
un- January 14, 1935 in Austin, Minnesota. ; .
WRITAL STATUS - Wife Nancy and three daughters; Cynthia, Jean, & Stacey.
EMCATION - University of Minnesota & Mankato State College.
B. S. in Business.
te School in Economics & Psychology.
Pacific Coast Banking School! Completed first year 1966-1967.
r SERVICE - u. S. Navy with Honorable Discharge.
EXPERIENCE - Citizens State Bank of Gaylord, Minnesota 1961-1963.
Duties - Teller and loan officer. ;
First Nationa? Bank of Anchorage, Alaska (Oct. 1963-March 1966).
. Duties - Loan Officer (Ass t Cashier & Ass‘t Vice-President).
The First Bank of Cordova, Alaska.
Duties - Overall Operation (Vice-President March 1966 - July 1966).
President, caskter, & Director July 1966 to present.
WAKING ORGANIZATIONS - Former instructor in Economics and Business Administration.
Former director and instructor in the American Institute of
of Banking. ,
Chairman of the Audit Committee of the Alaska Bankers „ Assoc.
Member of the Legislative Committee of Alaska Bankers’ Assoc.
COMDNITY ACTIVITIES - Member of City Planning Commission. .
ö Director and Secretary-Treasurer of Chamber of Commerce.
Director of Cortella Coal Corporation.
Director of Cordova Christian Center.
Treasurer of 8. P. O. E. #1483.
Representative to Lions International.
Member of L. O. O. M. #1266.
Chairman of Heart Fund Drive.
. University of Minnesota "M" Club:
MBBIES ~ All sports activities.
oe 2 Lowey . ©. BOX e128 —
6—ͤ— — — WASHINGTON #9106
April 26, 1968
The Bon Marche
2265 Washington Roulevard
Ogden, Utah 84401
Attention: Morris J. Smith
Dear Morris:
Thank you for your letter of April 20, 1968,
IT am asking for clarification of the per-
mission for you to be a stockholder and will
advise you as soon as I have been able to re-
view this. I would hope that there would
de. no objection, but will let you know,
It's nice to hear from you and I wish you
all the dest.
Yours very truly,
a LONEY, WESTLAND & RAEKES
ö Du. / dae By: .
ec: Robert F. Buck 7
1543
GX K-53-a
“vm NATION/ L BANK OF COMMERCE OF KANNE
C OP ö =
Later: Dean: : ö
I have just talked with Mr. Boys who is sending a wire tonight
to Mr. deShazo saying he giving the Columbia Center National Bank
an extension to May 24, 1968 for our exclusive. invitation to establish
a bank.
——
@ letter dated Septexber 22, 1967 from Mr. H. E. Boys, Vice
President of Realbon to lr. Dean N. Loney, Agent
for the Coluxbia
This is the underlying letter dndicating that space
which will be forwarded to you. —
I. °
T. Robert F.
: Beecutive Vice Prosideat
TRP:we —
Enclosure
1544
Gx K-53-b
ALLIED STORES CORPORATION
401 FIFTH AVENUE
NEW YORK
r. o. Box 2232
Seattle, Washington 98111
Mutual 2-1604
September 22, 1967
Mr. Dean W. Loney, Agent — „
Columbia Center National Bank, .
Loney, Westland & Raekes .
P. O. Box 6125
Kennewick, Washington 99336
Dear Mr. Loney: 7
On several occasions you have made inquiries about space in our Columbia
Center project at Kennewick for the proposed Columbia Center National
Bank, with which you are affiliated.
As you know, Realbon owns approximately 80 acres of which we propose
to develop 50 acres immediately for a shoppitig center. This center is
in the planning stages at this time and the eventual building program
will include a J. C. Penney Company store, The Bon Marche and approximately
60 other retail establishnents. Consequently, there will be space for one
Commercial type bank. -
It is our hope that Columbia Centcr National Bank will be able to establish
its office in this center. We have had inquiries from other banks, but due
to the fact you have spoken to us first, it is our intention to make space
“available to only one facility. On that -basis you will have the first
opportunity. . . a .
We presently are setting up our leasing program and very shortly we will
be able to draw up firm leases for space in this center. At that time,
we will most certainly contact you. I fully understand, however, the lcase
cannot be drawn up unt I permission for the establishment of the bank has
been received from the Comptroller of the Currency. On the basis of our
previous meetings, I will hold space open for you until such time as your
denk will be approved by the Comptroller of the Currency, which I am hopeful
you will be able to secure.
Very truly yours, .
REALEO:: CO) TION 7
M. K. Boys
Vice Presfdeat
1545
Gx K~-54-a _ 8
——— „ NATION«L BANK OF COMMERCE OF 3EATTLE
cop
May 15, 1968
kr. Kenneth d. Leaf
Regional Adninistrator of Rat ſonal Banks
Thirteenth National Bank Regi on
813 8. W. Alder Street, Roca 601
Fort land, Orepon 97205
Dear Mr. Leaf:
Subject: Coluebie Center nations! Bank Applicetion
Sincerely yours,
Andrew Price, Jr.
‘Chairman
AP ive >
Enclosure
ce: lr. Dean u. Loney,
Mr. U. o. Price, Seattle
TLX T SATT. Fr WAS 8/1:
HR. T. id. At F. DESIAZO
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— v. 8. AREASURY ;
iat vA =
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mrs _* * . ® . *
1
8 ‘ . 8
I dur EXTFNETD ir FXCLUSIVE IVI T ATI TO HOLD SPACF. FOR
CENTER |
BL
W
T
GD CATIONAL. AUK GROUP UNTIL FRIBAY SAY 24 TO PERMIT 1
FOR PECISLON SY YOUR OFFICE J UNDERSTAND THIS PECLSION WIL
nx FORTICOAING VERY SHORTLY
88 H. T. Pove VICE PRESIDENT
2 .
57 REALRQX CORPORATION «
PAT] 66 3 8 N .
2275 . vv m: TX „n ö N ,
2 (146) 1
* .
— e
POU A νν SEAS *
— ——— —
1547
GX K-55-a
25 = * NATION. u. BANK OF COMMERCE OF 3EATTLE
COPY °*
May 23, 1968
Mr. Thomas G. DeShazo
Deputy Corptroller of tho Currency
United Statce Treasury
Washington, D. C. 20220
Dear Mr. DeShazo;
Subject: Columbia Center Rat lonal Bank Application
Kennevick, Washington
You will find enclosed a copy of a letter addressed
by the omers of the Columbia Center at Kennowick, Wachington
to ltr. Dean u. Loney dotailing tha Progress being made in
leasing space in tha Shopping Center and tho status of its
construction to date.
A map is also attached showing in rod tho Bpcce
for which leases have been executed and in blue that space
covered by letters of intent. For your information, Ernat -
Malmo and Pay li Save Drugs, listed as “local conant a, are
part of a nultfml1ton dollar regional chain, with outlets
in Washington and Oregon, having financial stability equal
to that of some of the national tenants,
Te there is anything further we can supply to
assist you in your analysis of this application, pleace let
me know,
Sincerely yours,
Robort . Buck
Senior Vice President
RFBivs
1548
GX K-55-b
—_—, ~~ | NATION. d. BANK OF COMMERC: OF 3EATTLE
COPY
May 23, 1968
Mr. Kenneth M. Leaf
Regional Adminiutretor of National Banks
Thirteenth National Bank Region
813 8. Uu. Alder street, Room 601
Portland, Oregon 97205
Dear Mr. Leaf;
Subject: Columbia Center National Bank Application
Kennewick, Washington
Tho enclosed copy of a letter to Mr. DeShazo and
the attachments thereto should be self-explandtory, but if
you have any questions or want anything further on this
please let ma know.
Thanks for your consideration.
Sincorely yours,
Robert F. Buck
Senior Vice President
RFB:ws
Enclosures
ce: Mr. Dean V. Loney
RECE D
MAY 2 4 1968
COLUMBIA CENTER
RO. Bou 2232, See Wash 901) @ MU 2-1804
May 23, 1968
Mr. Dean M. Loney
Columbia Center National Bank
Loney, Westland and Raekes
. o. Box 6125
Kennewick, Washington 99336
Dear Mr. Loney:
so that you are well aware of the urgency of establishing your banking
facility in Columbia Center, I thought it necessary that I appraise you
of the progress of the job as it exists at this time.
We have received bids on all phases of the construction. I have divided
it into The Bon Marche building and the
The J. C. Penney Company has taken bids
shopping center including the mall.
for their structure so the total
project is now bid and contracts
will be awarded probably this week. All
of the utilities and site work have been done so ve can go into construction
of the structures imediately. I anticipate they will be well along toward
completion by January 1969. .
Our leasing program is well underway, and at the present time we have over
50% of the gross leasable area under lease exclusive of The Bon Marche and
the J. c. Penney Company which as you know are building their own buildings.
and certainly would be construed as leased Space. All of these tenants have
been inquiring about banking facilities and as yet, I have been unable to
give them a firm statement that you people will be the commercial banking
facility in this center. As you know, I have been reserving the space for
your facility in the center, and I will continue to reserve it for you due
to the fact that we feel you have a proprietory right to the location on
the site. Until such time as you tell me you cannot provide such à facility,
I will retain this site for your octupancy. N
I am enclosing a roster of the tenant's we now have under lease for your
information, as they will be probable customers of whatever banking facility
is established. I thought this would be of interest to you.
I wish to reiterate my feelings that
we hope you are successful in acquiring
your charter for this location.
have been turned down by the Cont
Until such time as you inform me that you
roller of the Currency, I will retain this
location exclusively for you.
Sincerely,
REALBON CORPORATION
K. E. Boys d
Vice President
1550
COLUMBIA CENTER
_
TENANT LIST AS OP MAY 21, 1968
The Bon Marche Lecal Tenant's Cont'd. :
J. C. Penney Company . Wades Men's Wear
National Chains: Hallmark 88
Florsheim Shoes ’ Lee Semon Men's Wear
Red Cross Shoes Hole n One Donut
Thom McAn Shoes . | Hammars Uniforms
Leed's Women's Shoes Flower Basket
Orange Julius | ; Squire Shop
Lerner Commitment Letters out:
Zale Jewelry Singer Sewing Machines
Local Tenants: ; Merle Norman Cosmetics
Ernst Hardware -Malmo 5 Woolworths
Pay'n Save Drugs |
Commercial Appliance Service
Kaymax Travel Agency
Hickory Farms
Shield's Books and Stationery
Dodson's Jewelry N
Carl's Family Apparel
Hazel's Candies
Jess Barber Women's Apparel
Patterson's Women's Apparel
THE ADMINISTRATOR OF NATIONAL BANKS
WASHINGTON
May 28, 1968
Mr. Robert F. Buck
Senior Mee President
The National Bank of Commerce
_ of Seattle
Seattle, Washington
Dear Mr. Buck:
Thie will acknowledge your letter of May 23, 1968 and
enclosures, in connection with the application filed by Mr.
Dean W. Loney and asecciates for a new National Bank at
ck, Washington =~ ..
This material has been made a part of the record
in connection with the subject proposal and will be carefully
considered in our appraisal of the application.
Sincerely yours,
‘Deputy Comptroller of the Currency
United States Treasury
DEAN w LOWEY
JONN A. WESTLANO
Pre mM. RACKES
JOnn T. ROSSON, JR.
1552
GX K-S?-a
LONEY, WESTLAND & RAEKES
ATTORNEYS AT LAW
enen. — ent
SOO WEST KRENNEWICHR AVENVE
_RENNEWICK, WASHINGTON 99336
June 7, 1968
Robert Buck
Senior Vice President
National Bank of Commerce of Seattle
PO Box 3966
Seattle, Washington
Re: Columbia Center National Bank
Dear Bob:
Enclosed is copy of telegram received from
Catherine May. You will be interested to notice
that you have apparently received a charter to
open a branch bank!
Yours very truly,
„ WESTLAND & RAEKES
ey
LEORAM
—
1553
GX K-$7-b
«A ~
ee duo BTB1S4) cut PDB BT .
. WASHINGTON de JUN, 5 NFT
DEAN LONEY me TEN
300 WEST KENNEWICK AVE KENNEWICK WASH
JUST INFORMED BANK OF COMMERCE KAS RECEIVED CHARTER FoR| BRANCH
BANK COLUMBIA SHOPPING CENTER. CONGRAULATIONS. _
CATHERINE . a
(CATHERINE MAY MEMBER CONGRESS)
usr PDT
;*
4
*
1554
ree _ GX K-S8
2 SKAOS2 (u KTAOOA) COLLECT, ;
5 wu KTA WASHINGTONDC — 339P EST
78 DEAN WRIGHT LONEY ht
“a _ 300,WEST KENNEWICK AVE TEL L 582-2191 KENNEVICK WASH
. PRELIMINARY APPROVAL GRANTED APPLICATION ro ORGANIZE NATIONAL
BANK AT KENNEWICK WASHINGTON UNDER = TITLE Nr CENTER
NATIONAL BANK®, LETTER FOLLOWS . itt,
“THOMAS 6 DESHAZO DEPUTY COMPTROLLER OF THE CURRENCY
—
THE ADMINISTRATOR OF NATIONAL BANKS
: WASHINGTON ,
June 6, 1968
Dear Mr. Loney: -
We are pleased to inform you that the Comptroller of the Currency
has granted preliminary of the application submitted by you and
approval
your associates to organize a National Bank as follows:
1556
-2-.
8. In addition to regular coverage, the have in force
N, ooo, ooo excess Fidelity Bond the date it opens for business.
This should be reflected in the minutes the meeting at which
regular coverage is purchased,
Directors: At the organization meeting of the incorporators the following
names should be submitted for election as interim directors:
Frederic William Albaugh
Pred Michael Cochrane
Glenn Norval Felton
Gerald Bugene Horrobin
Officers:
None. See Conditions above.
Financial and Biographical Reports of any officers should be
forwarded to Regional Administrator of National Banks Kenneth W. Leaf.
Banking Quarters: It is understood that the bank will be located in
Columbia Center. Please submit data with information as to the terms and
cost of the lease of bank premises and the estimated cost of furniture,
fixtures and equipment at this site to Regional Administrator Leaf. It
is expected that costs relative thereto will be kept within reasonable
at no cost to the bank,
National Bank Directors" and
“Instructions, Procedures, Additional
copies of these publications may be obtained
and $2.00 respectively. :
Forms and instructions to be used in the organization procedure are
enclosed. We invite your attention to page 1, paragraph 3 of the Instruc-
tions wherein the first phase of the organization should be completed
within fifteen days.
assure you that we shall de pleased to have you communicate with
time we can de of help to you and your associates in completing
Very truly yours,
Loon be
Deputy Comptroller_of the Currency
1557
— * NATriONAL BANK OF COMMERCE OF SEATTLE
COPY
June 11, 1968
Mr. Dean W. Loney, Organizer
Columbia Center National Bank
P. 0. Box 6125
Kennewick, Washington 99336
Dear Dean:
Tou were thoughtful to send me the copy of the
letter of instructions from the Comptroller. This will
make it easier to follow as wa go through this.
In order to complete our file, will you please
also sand a photostat of the June 3, 1968 telegram from
the Comptroller's Office indicating approval of your applic-
ation. 7
Everyone is pleased the Friday afternoon meeting
could be postponed. It probably would be a good idea to
begin thinking about a dete so we could give as much notice
of the meeting ae possible, but, I suppose we don't really
know how long it will take the Comptroller to approve the
proposed articles and to advise us we are free to go ahead.
What do you think? .
Sincerely yours,
=
Robert F. Buck
Senior Vice President
*
OCAN Ww. doc
JOHN A.WESTLAND
ente. RACKES a)
—
JOHN T, ROBSON, JF.
1558
Gx K-61
LONEY, WESTLAND & RAE KES
ATTORNCYS AT LAW onze Gudt 200
. ©, BOX 6:25 TELCPHOME sere,
300 WEST KENNEWICK AVENUE
k, WAS 5 99336
June 12, 1968.
Robert F. Buck
Senior Vice President
National Benk of Commerce of Seattle
PO Box 3966 .
Seattle, Washington
Re: Columbia Center National Bank
Dear Bod:
We enclose the following documents:
1. Original and four copies of
Articles of Association;
2. Original and four copies of
Organization Certificate.
Please have Mr, Hemphill and Mr. Stowell
sign both documents and all copies and return
all but one copy of each to me in order that
we may obtain the balance of the signatures.
After they heve been returned, I will have
Albaugh, Matheson, Felton and Broughton sign.
I am also sending a letter to Mr. Douglas
Graves as you suggeste and a copy will be forvard-
ed to you. :
As you know the meeting of the organizers must
take plece shortly after the papers are filed.
Fr. Cochrane is leaving the country for ebout a
month starting June 28 and I am vonder ing if
1559
Robert P. Buck - page 2 June 12, 1968
you would ask your people if a date detween
June 24 and June 28 would be acceptable for 5
a meet ing. I would suggest perhaps, Tuesday,
Wecnesday or Thursday of that week.
Please let me know.
Yours very truly,
LONEY, WESTLAND & RAEKES
DL / dae By:
encl: ,
1560
orn a CROP ERT ICE
Dear Dean:
Enclosed are the original and four copies of the
Articles of Association executed by Mr. Hemphill and Mr.
Stowell. You will note that I have marked lightly in pencil
the typing crrors on pages 1 and 2, which you are authorized
to correct, substituting new corrected pagas.
The four photostat copies of the certificate of
organization have’ been executed, and a now form of notariza-
tion eliminating the name of Mr. McGuire substituted, the
original of which you can substitute for the original (witich
1 hope you have by now found) which showed Mr. KcGuire also
to have signed,
According to my records, Mr. Broughton agreed to
purchase 125 chares of $100 par value stock at $160. per sharo
- for @ total consideration of $22,500.00. Our copy of the
biographical data submitted erroncously shows thie to have
been 225 shares for a total cost of $22,500.00.
Mr. Carrington has not been required to execute the
Articles, but our records show the amended application which
added him to the list of organizors, listed hin as subscribing
individually for 12 shares for a total of $2,160.00. Mr.
McGuire, also not signing because of his absence in Europe,
subscribed for 84 shares at a total consideration of $15,120.00.
Mr. Hemphill subscribed for 125 shares costing
$22,500.00, and Mr. Stowell io subscribing for 40 shares at
$7,200.00. Our copy of Mr. Stowell's biographical data showed
him es subscribing for 68 sheres for a total of $6,800.00, but,
obviously, this fe incorrect. lle has agreed to increase tho
—
1561
NATION, L BANK OF COMMERCE OF EA E
copneuge
LOOPY
June 13, 1968
* Mr. Dean . Loney - 2
6 .
total price to $7,200.00 to round out the number of shares at
40 instead of at a fractional number as would be
his subscription were limited to $6,
in
I am going to get this
- with you by telephone with respect to the date of the firet
meeting of the organizers. .
Sincerely yours,
Robert F. Buck
Senior Vice President
RFBiws
Enclosures
CAN N LONEY
— JOHN A. WESTLAND
PHILIP M. RACKES
—
JOUNM v. ROBSON, JR.
b bd By:
encl:
1562
_ GX K-63
LONEY, WESTLAND & RAEKES
ATTORNEYS AT LAW —
. BOK C125 TELE e
300 WEST KENNEWICK AVENUE
KENNEWICK, WASHINGTON 99396
June 14, 1968
Mr. Charles Broughton
300 M. Main 1
Dayton, Washington :
Re: Columbia Center National ban
Dear Mr. Broughton: ol
We enclose the original and four copies of
Articles of Association which should be. signed
by you. We are also enclosing the orig
and four copies of the Organization Certificate,
" Would yo please sign all copies of the: Articles
of AssoGiation and return to us. Please sign -
all copies of the Organization Certificate
before a Notary Public and return to us.
We would like these back as soon as possible
in order that they may be forwarded to the
Comptroller of Currency in Washington, D. C.
I hope this finds you in good health. de are
tentatively planning on a meeting of all of the
Ancorporators in Pasco at 3:00 p.m. on June
25 or 26. I hope that you will be able to
attend this meeting. We will let you know
the date as soon as it has been made definite.
Yours very truly,
LONEY., WESTLAND & BAEKES
—— m —
ec: Robert F. Buck
COPY
1563
Gy K-64
NATION L. BANK OF COMMERCE OF ;EATTLE
Head Office
Columbia Center National Bank
June 18, 1968
i. Robert F. Buck
Senior Vice President
Head Office
Following our conversation today I reviewed the Columbia
Center National Bank approval with Mr. Carlson. He feels that at
the appropriate time we should indicate that Mr. McGuire will be
Tf Mr. Graves is not finally interested in being president
of the Columbia Center National Bank, we should advertise and take
other steps to be helpful to Mr. Loney to find an experienced presi-
dent for the benk.
Andrew Price, Jr.
Chairman
*
s
1564
» 5) RONEY, WESTLAND, KOONTZ & RAEKES _
: ene e ö —
283
nenn 1 o re PU
— — , eee eee ee —
. ° * *
. 2 N ; es
* ‘
June 18, 1968
The Administrator of National Banks
United States Treasury
Washington, b. c. 20220
Attention: Mr, Thomas d. DeShazo
Re: Columbia Center National Bank
Dear Mr. de Sha tot
Thank you for your letter of June 6 1968, re-
ceived in our office on June 10, 1986.
| In accordance with the instructions we are
pleased to enclose duplicate originals of the
Artioles of Association and duplicate originals
of the Organization Certificate,
“These documents are signed by all of the appli-
p cants with the exception of Mr. Morris J. Smith
and Mr. Wilbur Harold McGuire,
Mr, Smith was the local manager of the Bon Marche
and it was planned that he would manage the new
Bon Marche in the Columbia Shopping Center.
During the time our application was on file,
Nr, Smith was offered the job managing the Bon
Marche Shopping Center in Ogden, Utah, and he
has since moved from the aroa and assumed these
duties,
Mr. McGuire is on an extended trip through Europe
and will not return within the time period
permitted,
We therefore respectfully request that the Articles
1565
Mr. Thomas 0, DeShazo - page 2 June 18, 1968
of Association be accepted as signed and that the
Comptroller grant us permission for a variation
in leaving off these two individuals. This will not
change the proposed Board of Directors in any way.
The conditions numbered one through eight in your
letter of June 6, are acceptable and will be
followed,
Mention was made of forwarding of the “Comptroller's
Manual for National Banks", This has not yet
been received, but we will send you the $25 as
soon as it arrives,
We shall appreciate your advice as to the
acceptability of the Articles of Association
and the Organization Certificate. If there is
any further information which you need, we
will be most pleased to send it right away.
Yours very truly,
LONEY, WESTLAND & RAEKES
.
*
DL / dae 27 By:
do: Mr. Kenneth Leaf
Mr. Robert Buck
encl:
— . ———— ͤ —́ꝛT—— —¼
1566
: GX K-66
LONEY, WESTLAND & RAEKES
ATTORNEYS AT LAW
SEAN Ww. LONcY ARCA CODE tay
JOnM A. WESTLARO N ©. BOX Gizs VELC PHONE Setuy
Perry mm. SACKCES 300 WHST KRENNEWICK AVENUE 5
. ROBSON, VA, KENNEWICK, WASHINGION 99396
N N RECEIVED
July 3, 1968 JUL 8
Robert F. Buck
Senior Vice President *
National Bank of Commerce ,
PO Box 3966
Seattle, Washington
Re: Proposed Columbia Center National Bank
Dear Bob:
Under separate cover we have forwarded the docu-
ments for the signature of the gentlemen on the
coast. As soon as these have been signed and
notarized, please return them and I will send
them on to Dayton for Mr. Broughton's signature,
and then on to Washington, D. C.
As I advised you on the phone, I am enclosing
a list of proposed persons in the area to contact
concerming purchase of steck. This list is the
result of a conference wi Lyle Beavers and
it is a long ways from being vomplete, but it
does give us a place to start.
Lyle suggests that we obtain a list of all of the
proposed local tenants in the shopping center
and give consideration to attempting to sell
some stock to each one of these in the hopes of
attracting their accounts.
I called for Mr. Rightmire but he was out. I left
word with his secretary for him to contact me and if
he has any suggestions, I'll pass them on.
N very truly,
EY, WESTLAND 4 RAEK ES
DL / dd
ene l:
ec: Lyle Beavers
1567
LIST OF POTENTIAL INVESTORS - Columbia Center National Bank
Henry Smith Businessman and wheat rancher
. Elmer Smith ö Wheat rancher
‘PatOxens =~ inessinaiand—wheat_rancher.
Richard D. Emory Manager of Valumart
Sid Lantor Owner and operator of Lantor's
7 Menswear
Sid Carl . . Owner and operator of Carl's
Clothing Stores
George Grant Grant Construction Company
Neil Lampson Lampson Equipment Rental Sales, Inc,
Robert Fisher Fisher's Pharmacy
Quillen family Horse Heaven wheat farmers
fe Mr. Hanson High Valley Orchards
—_*—JoIn_ceQregor = WR oresor- DandNand\ LiveStack-
A. vert Field doeononist = Atlantic Richfield
„ John Schultz and
L. Mk. Richard President and Vice President -
Atlantic Richfield
— Robert Phillip and Owners and operators - Tri-City Herald
Glenn Lee
eee L. RSA TALIA N
Maus WH O.
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0 at 22 =
coun gt nee
LOPY
1568
NATION/ L BAnn OF COMMERCE OF. EATTLE
July 5, 1968
*
Mr. Dean M. Lonoy, Agent
Columbia Center National Bank
P. o. Box 6125
Kennewick, Washington 99336
Dear bean
Bnclosad are the original and three copies of the
Organization Certificate and original and ten copies of
Articles of Avsociation which the three Seattle men have
signed and which have been notarized. We hope this finally
ie satisfactory.
Mr. Frank A. Aberofeller, Assistant Vice President,
will be working with me in connection with the formation of
the new bank. Frank probably will telephone you to arrange
a dato for your visit next weck at which he and Mr. Jim
Dunham of our Oporating Department will go over with you the
various problems of location, lease, architect and contractors
as voll as anything else you may wish to develop.
Sincerely youre,
* ye
a)
R. F. Buck
\ Senior Vice President
nr
Enclosures
?.S. Reminder to put the date of signeture on the 11. copies
: of the Articles of Association.
GX K-67
1569
Gx K-68
LONEY, WESTLAND & RAEKES . .
. ATTORNEYS AT LAW - ak
— n. N —
— S acecs ‘ 200 WEST KECNNEWICK AVENUE
— 2h) KENNEWICK, WASHINGTON 99336
July 11, 1968
Robert P. Buck
Senior Vice President
National Bank of Commerce of Seattle
PO Box 3966
Seattle, Washington
Re: Columbia Center National Bank
Dear Bob:
Enclosed is copy of letter received this date
from Thomas G. DeShazo, and a fully executed
copy of Articles of Association as well as
a fully executed copy of Organization Certifi-
cate,
Yours very truly,
EY, WESTLAND & RAEKES
1570
Gx K-69
July 12, 1968
Robert P. Buck
Senior. Vice President
National Bank of Commerce of Seattle
PO Box 3966 :
Seattle, Washington 98124
Re: Columbia Center National Bank
Dear Bob:
This letter ia written following the meeting
with Frank Abersfeller and Jim Dunham in Seattle
on Thursday, July 11. —
In a discussion, certain matters were raised
which we felt should be called to your attention,
and the purpose of this letter is to set forth
these questions so that you may be giving them
consideration for purpose of discussing them at
our next informal meeting. These quostions are
as follows:
1. The shopping center owners have indicated
that they will just lease the bare ground and it
will be necessary that the bank obtain financing
for the purpose of constructing the building. Your
building officials..believe that the minimum sized
space required would be approximately 5000 square
feet, and a rough estimate of the cost of the building
improvements and special equipment would be in the
neighborhood of $150,000 to $200,000,
2. The proposed site is somewhat questionable
and we are wondering if further steps should be
-taken in order that a better location might be
obtained. ;
3. We need a clear definition and understanding
of the management responsibilitics as between the
directors of the unit bank and the nanagenent of
the National Bank of Commerce. For instance, many
1571
Robert . Buck’ page 2 = July 12, 1968
of the steps taken initally will have ea ‘bearing
on the long range operation of the bank many years
after it has changed from a unit bank to a branch
bank, / ex would seem to make better economic sense
that all plans point to the long range operation
rather than the short term unit operation.
4, .Should the organization expense be taken
from the paid-in surplus and profits or should
it be added to the price of each share of stock?
5. Realbon Corporation has raised the question
of the identity of the person signing the lease.
Apparently the officers want the lease signed by
NBC rather than the Columbia Center National Bank.
6. It 4s necessary that an architect be employed,
7. That it be possible to work very closely
with your computer center and tie all of the unit
operations into the National Bank of Commerce
computerized processing center,
8, We need to prepare a detailed agenda of the
organizational meeting and also the meeting of
the directors following.
9. The duties of the directors and the help
that we expect from them should be carefully detailed,
10, We should agree upon the format of a circular
for the stock offering, the terms of the stock sub-
scription agreenent and the identity of those stock-
holders whom we believe will bring added businees
to the dank. 55 ;
11. A delegation of the responsibilities for
seeing that all the many details are performed in
order that the bank will. have everything necessary
when it opens, N
12. We should also agree upon a target date for
the opening.
I am sending a letter to the organizers of the bank
in this area asking that they be giving consideration
1572
Robert F. Buck page 3 July 12, 1968
to a list of potential stockholders and we will
try and have that list completed by the time the
organizational meeting takes place,
Before this meeting, however, it would certainly
be helpful to me if we could spend some time das-
cussing these various points.
Please give me a call at your convenience,
Yours very truly,
LONEY, WESTLAND & RAEKES
DWL/bde By: p
encil:
PS: Enclosed for your file is a copy of the
instructions received from the Comptroller's office.
ot N LONEY
JOuM A.WESTLAND
pune ». RACKES
——
Jonn T. ROBSON, JR.
. voice 8 H Buck
Ml DON arn FOC The — N owner al, indicated =“ 78
jean
„Ne
Aor] ~
CS Back
ey
e BY
Rk wT US.
R.
(CD
sb GANS
Se THe
er
which we felt should be called to your attention,
1573
GX K-70
Price Dep. Ex. 7 - Loney Dep. Ex. 2
LONEY, WESTLAND & RAEKES
ATTORNEYS AT LAW ARCA CODE S08
. O. GOK 6125 TELEPHONE e.
3200 WEST AER HE WICK AVENVE
KEMMEWICK, WASHINGTON 99336
July 12, 1968
Robert F. Buck
Senior Vice President 2
National Bank of Commerce of Seattle
PO Box 3966
Seattle, Washington 98124 -
Re: Columbia Center Mational Bank
Dear Bob:
This letter is written following the meeting
with Frank Abersfelle: and Jim Dunham in Seattle
on Thursday, July 11.
In a discussion, certain matters were raised
and the purpose of this letter is to set forth
these questions so that you may be giving them
consideration for purpose of discussing them at
our next informal meeting. These questions are
as follows:
70 H tet,
that they will just lease the bare ground and it
will be necessary that the bank obtain financing
for the purpose of constructing the buildings. Your
building officials believe that the minimum sized
space required would be approximately 5000 square .
feet, and a rouch estimate of the cost of the building,
improvements and special equipment would be in the
neighborhood of $150,000 to $200,000.
2. The proposed site is somewhat questionable
and we are wondering if further steps should be
taken in order that a better location might be
obtained.
3. We need a clear definition and understanding
of the. manazement responsibilities as between the
directors of the unit bank and the manarement of
the National Bank of Commerce. For instance, many
1574
Robert F. Buck page 2 July 12, 1968
of the steps taken initally will have a bearing
on the long range operation of the bank many years
after 1t has changed from a unit bank to a branch
bank. It would seem to make better economic sense
that all plans point to the long range operation
rather than the short term unit operation.
ev / ve 4, Should the organization expense be taken
1 from the paid-in surplus and-Prefits-er should
4 1? 39 1t be added to the price of each share of stock?
i!
N ae . Real bon Corporation has raised the question
~ al [RP . ot the identity of the person signing the lease.
opts ; will. e. Apparently the officers want the lease signed by
5 40 ee NBC rather than the Columbia Center National Bank.
6. It is necessary that an architect be employed,
N 7. That it be possible to work very closely
2 with your computer center and tie all of the unit
V. operations into the National Bank of Commerce
2— computerized processing center.
organizational meeting and also the meeting of
Whe directors following.
; 13 9. The duties of the directors and the help
+ ~/ that we expect from them should be carefully detailed.
A 10. We should agree upon the format of a circular
— .., hy, for the stock offering, the terms of the stock sub-
ews 1. 41 * a scription agreement and the identity of those stock-
aad C holders whom we believe will bring added business
Pee ws to the bank. O crow vs. LF MONK
7 pol a mee | LAIN enke Det, wool = a
4 8, We need to prepare a detailed agenda of the
yen it opens.
* 12. We should also agree upon a target date for
Vv rt the opening. —
600 1 am sending a letter to the organizers of the bank
in this area asking that they be giving consideration
1575
Robert P. Buck page 3 July 12, 1968
to a list of potential stockholders and we will
try and have that list completed by the time the
organizational meeting takes place.
Before this meeting, however, it would certainly
de helpful to me if we could spend some time dis-
cussing these various points.
Please give me a call at your convenience.
Yours very truly,
LONEY, STLAND & RAEKES
DWL/bdc N By: Gav:
encl:
PS: Enclosed for your file is a copy of the
instructions received from the Comptroller's office.
1576
GX K-71
Buok Dep. Ex. 3
LONEY, WESTLAND & RAEKES
ot aN w. LONEY ATTORNEYS AT LAW 8
n A. WESTLAND N O. BOX G26 TELEPHONE 8
PHILIP M. RACKES 300 WEST KENNEWICK AVENVE .
JON . 0 IA. KENNEWICK, WASHINGTON 99336
July 12, 1968
——
Robert F. Buck o wh
Senior Vice Fresident aes
National Bank of Commerce of Seattle
PO Box 3966 85
Seattle, Washington 98124
Re: Columbia Center National Bank
Dear Bob:
This letter is written following the meeting
with Prank Abersfeller and Jim Dunham in Seattle
on Thursday, July 11.
In a discussion, certain matters were raised
which we felt should be called to your attention,
and the purpose of this letter is to set forth
these questions so that you may be giving them
consideration for purpose of discussing them at
our next informal meeting. These questions are
as follows:
1. The shopping center owners have indicated
that they will just lease the bare ground and 11
“will be necessary that the bank obtain finanging
for the purpose of constructing the building. Your
‘building officials:believe that the mini sized
space required would be approximately 50 square
feet, and a rough estimate of the cost the building
improvements and special equipment would be in the
neighborhood of $150,000 to $200,000 5
2. The proposed site is somewhat questionable
and we are wondering if further steps should be
taken in order that a better location might be
. obtained 8. N
7.
3, We need a clear definition and understanding
of the management responsibilities as between the
directors of the unit bank and the nanagenent of
the National Bank of Commerce. For instance, many
— *
-
| 1577
Robert PF. Buck page 2 July 12, 1968
of the steps taken initally will have a bearing
on the long range operation of the bank many years
after it has changed from a unit bank to a branch
bank. It would seem to make better economic sense
that all plans point to the long range operation
rather than the short term unit operation.
4, Should the organization expense be taken
from the paid-in surplus and profits or should
it be added to the price of each share of stock?
5. Realbon Corporation has raised the question
of the identity of the person signing the lease.
Apparently the officers want the lease signed by
NBC rather than the Columbia Center National Bank.
6. It is necessary that an architect be employed,
7. That it be possible to work very closely
with your computer center and tie all of the unit
operations into the National Bank of Commerce
computerized processing center. 2
8. We need to prepare a detailed agenda of the
“organizational meeting and also the meeting of
the directors following.
9. The duties of the directors and the help
that we expect from them should be carefully detailed.
10, We should agree upon the format of a circular
for the stock offering, the terms of the stock sub-
scription agreement and the identity of those stock-
holders whom we believe will bring added business
to the bank. 4
11. A-Gelegation of the responsibilities for
seeing that all the many details are performed ‘in
order that the bank will have everything necessary
when it opens,
12. We should also agree upon a target date for
the opening. N
I am sending a letter to the organizers of the bank
in this area asking that they be giving consideration
1578
Robert F. Buck page 3 July 12, 1968
to a list of potential stockholders and we will
try and have that list completed by the time the
organizational meeting takes place.
Before this meeting, however, it would certainly
de helpful to me if we could spend some time die-
cussing these various points.
Please give me a call at your convenience,
Yours very truly,
LONEY, ND & RAEKES
DWL/bdc By:
PS: Enclosed for your file is a copy of the
instructions received from the Comptroller's office.
RLS: jg 7-10-G8 Rev.
— *
COLUMBIA CENTER LEASE WITH
COLUMBIA CENTER NATIONAL BANK
— ———
This lease, dated this day of 1968
between REALBON CORPORATION,~a Washington Corporation, as”
“Landlord,” and COLUMBIA CEXTER NATIONAL BANK, as “Tenant,”
is upon the following terms and conditions:
Sec. 1. Promises Demised: Landlord leases to Tenant
and Tenant leases from L ord certain premises hercinafter -
referred to as “the premises,“ that is, the premises dos-
cribed in Exhibit “A-1" hereto and outlined in red on the
Plan of the Shopping Center attached as Exhibit A“ hereto,
The term “Shopping Center," as used herein, shall moan the
Shopping Center located on that certain real property in
Benton County, Washington, the legal description of which
is set forth in that certain instrument recorded in Volume
236, page 148, records of the Auditor of said county.
Sec. 2. Term: The term of this lease shall comme nce
on August I, Ted and end on July 31, 1989.
Sec. 3. Construction of Improvements: Tenant shall
construct a bank building On the premises at its own ex-
pense in accordance with the plans and specifications
prepared by John Graham & co., architects and engincers.
The exterior of said building shall be compatible with the
buildings in the Shopping Center and the design of the bank
building shall be subject to the approval of Landlord, which
approval shall not be unreasonably withheld. Tenant shall,
at its own expense, install on its premises the necessary
sidewalks, planters and curbs, The Tenant shall also_install
the necessary storm drains on its premises. Landlord will,
at its expense, pave with asphalt the parking areas on the
demised premises.
‘Sec. 4 Rent: Tenant agrees to pay to Landlord at
such place as Landlord may from time to time designate
rentals as follows: ;
(a) No rental shall be payable until July 1, 1969
. or until the bank on the demised premises ope..s
for business, whichever is earlier, Any rentcis
payable until July 1, 1969 shall be payable ax
the rate of $600 per month. — —
(b) For the three years of the term hereof comnencing
July 1, 1969, Seve. Thousand Two Hundred Dollars
($7,200) per year,
1580
For the next seven (7) yoars of the torm
of this lease, Nine Thousand Nine Hundred
Sixty-Five Dollars ($9,965.00) per yoar;
For the next five (5) years of the term
of this lease, Eleven Thousand Two Hundred
* Porty+One Doliars ($21,241.00) per year;
For the next six (6) years of the tern
of this lease, Twelve Thousand Nine Hundred
Twenty-Seven Dollars ($12,927.00) per year.
The rental for each year shall be payable in twolve
(12) monthly. installments. . anything
herein contained, no rental shall be payable by
Tenant until July 1, 1969 or when the Shopping Center
opens for business, whichever is earlier.
Sec..5. Use of Premises: Tenant may use and .
occupy the premises only Yor the purpose of conducting
the business of a commercial bank and for no other
purpose without the written consent of Landlord,
Sec. 6. Conduct of Business: Tenant shall not
leave the premises unoccupied or vacant. Tenant shall
keep its bank open during the usual and customary hours
for banks to be epee in the Tri-Cities area.
Sec. 7. Care of W Tenant shall keep
the premises under its control, clean and free from
rubbish and dirt at all times and shall store all trash
and garbage within the premises and arrange for the
picking up of such trash and garbage. Tenant shall:
not burn any trash of any kind in or about the premises.
8. WMerchants' Association: Tenant agrees
that 7 . eens and Tema In Guring the entire term
ot this lease a member of the Merchants' Association
which shall consist of Landlord and those doing business
in the Shopping Center. The purpose of said association
shall be the geherai furtherance of the business interests
of the Shopping Center as a whole and include advertising,
promotion and special events calculated to benefit the
Tenants of the Shopping Center. The association shall
make its own rules and regulations with respect to such
matters. Tenant shall pay monthly its proportionate
share of the expenses of said association and its
activities,
RLS: jg 7-10-GS Rev.
2585 terer Fixtures, Tenant shall not
install exterior lighting fixtures, shades or awnings
or do any oxterior decoration or Painting, or make any
structural alterations without the provious writton
consent of Landlord,
and Advertising Media: Tenant
y us or advertising media or
window or door lettering or placards visible from out-
side the premises without the t
of Jandlord. Tenant agrees at its own expense to
design sign panels and signs in accordance with the
style for sign panels and signs adopted by Landlord
for the Shopping Center and to install and thereafter
maintain the signs so designed. Tenant agrees not to
use any advertising media that shall be objectionable to
landlord, such as loudspeakers, photographs or radio
broadcasts in a manner to be heard outside the premises,
without the written permission of Landlord,
Upon request of Landlord, Tenant shall immediately
remove any Sign, light, advertisement, marquee, awning
or other display which Tenant has placed or permitted
to be placed on or about the premises, without consent
of Landlord, which in the opinion of Landlord is objec-
tionable, offensive, or not in good taste, and, if Tenant
shall fail to do so, Landlord may enter the premises and
remove the same at the expense of Tenant.
Sec. 11. Common Areas Defined: The term “common
areas“ as use erein shail mean the parking areas, land-
scaped areas, driveways, truckways, areaways, roads,
walks, curbs, corridors, malls, public toilets, public
stairs, ramps, elevators, escalators, shelters, bus ;
stations, and public lounges as located and laid out |
from time to time in the Shopping Center, and other
parking areas designated from time to time by Landlord
for use by Tenant's customers, together with the parking
areas on the demised premises,
.
Sec. 12. Use of Common Areas: Landlord hereby
grants to Tenant and to its employees, agents and cus-
tomers and invitees the non-exclusive right for and
during the term of this lease to use the parking area and
other common areas as from time to time constituted, such
use to be in common with all other occupants of the
Shopping Center, whether as tenants or as owners and
their employecs, agents, customers and invitees. The
parking area and other common areas are as shown on tae
plan of the Shopping Center attached as Exhibit "A"
hereto. The unrestricted right is reserved to make changes
*.
—
2
. 1582
in the parking areas and in the common areas, pro-
vided however, that the designated parking area shall
not be decreased by more than ten per cent (10%) of
the area so designated at the commencement of this
lease without, substituting other parking areas equal
to or greater in area and reasonably accessible to the
Tenants of the Shopping Center. Any such substituted
arcas may be elevated, surface, or subterranean. Land-
lord shall have the right to make such changes in the
Plan of the Shopping Center attached as Exhibit "A"
hereto as Landlord deems necessary and consistent with
the purposes and intent evidenced by said plan, and,
in respecc thereto, shall have the right to erect such
additional buildings or structures and such planter
boxes, fountains, and other landscaping devises or
features and shall have the right to erect such pro-
motional and other displays within the common areas
as Landlord may from time to time deem desirable.
No barriers shall be erected to separate the
parking areas on the premises from the parking areas
in the balance of the Shopping Center.
Sec. 13. Control of Common Areas: Parking areas
and other common areas in the Shopping Center (other
than the parking areas on the premises) shall at all
times be subject to the exclusive control and manage-
ment of Landlord. Landlord shall have the right, from
time to time, to establish reasonable rules and regu-
lations with respect to the parking areas; to construct
surface or elevated parking areas and facilities; to
establish, and from time to time to change, the level |
of parking surfaces; and to close all or any portion of
said areas or facilities to such an extent as may, in
the opinion of the Landlord's counsel, be legally suffi-
cient to prevent a dedication thereof or the accrual
of any rights to any person or to the public domain.
— Within five (5) days of written notice from Land-
Lord Tenant shall furnish Landlerd the automobile
license numbers assigned to its cars and the cars of
all its officers and employees employed in the premises.
Landlord shall have the right to designate the portions
of the parking area where Tenant and its officers and
employees may park their cars.
Sec. 14. Comnon Area Charze: The “common area
charge“ is ceiinea as Lanalora’s actual gross cuosis
and expenses of every kind or nature incurred by Lasac-
lord by reason of Landlord's ownership and/or operation
*
~
ogo
1583
of the common areas. Such gross costs and expenses
shall include, but shall not be limited to, the costs
of operating, maintaining, lighting and policing and
the costs of repairs and replacements to the conunon
areas, the real estate taxes payable on the common
areas, liability insurance covering the common areas,
assessments levied on the common areas, and, a reason-
able allowance for the depreciation of maintenance
equipment used in public area maintenance, plus a
charge of fiteen percent (15%) of such gross costs
and expenses. Tenant shall pay its proportionate
share of the common area charge on the following basis:
Calculawe the number of units in the premises, with
each square foot of mall level area equaling one unit,
and each square foot of upper or lower level area as
one-half unit. Calculate the number of units in the
Shopping Center with each square foot of mall level
of all occupied space (whether or not adjoining the
Mall) equaling one unit and each square foot of upper
or lower level areas of occupied space as one-half
unit. The mezzanine shall be considered as upper
level space. The total costs and expenses referred
to in this Section shall be multiplied by a fraction,
the numerator of which is the number of units in the
premises and the denominator of which is the number of
units in the Shopping Center. The resulting sum shall
be Tenant's proportionate share of the common area
charge.
All charges payable by Tenant under this section
as a common area charge shall be paid in advance at the
Same time and place as herein provided for the paynrent
of the fixed minimum rent. Such charges shall be equal
to one-twelfth (1/12th) of the total of Landlord's
reasonable estimate of such charges for the first year
the Shopping Center is open and, after such first yc.-,
shall be an amount equal to one-twelfth (1/12th) o.
the total charges for the previous twelve-months period,
adjusted to reflect Landlord's reasonable estimate of
anticipated increases or decreases in such charges.
Appropriate adjustment shall be made for any period
less than a full year. .
Sec. 15. Tenant's Insurance: Tenant, at ts
sole expense, Sha procure and maintain in full force
and effcct public liability insurance including con-
tractual liability coverage with limits of not less
than two hundred and fifty thousand dollars ($250, 000.00)
per person, five hundred thousand dollars ($500, 000. oo)
per occurrence, and fifty thousand dollars ($50,000.00)
for property damage, insuring against any and all lia-
bility of Tenant with respect to the premises or usec
or occupancy thereof.
1584
All insurance policies shall be issued by
companies satisfactory to Landlord, and any such
insurance policy shal: expressly provide that the
insurance company shall notify the Landlord in
writing at least ten (10) days prior to any alter-
ation or cancellation thereof. Each such policy, or
a duplicate, or appropriate certificate evidence
thereof, shall be delivered to Landlord,
Sec. 16. Release and Subrogation: Each of
the parties hereto hereby waives any and all rights
of action for negligence against the other party
hereto which may hereafter arise for damage to the
premises, to property therein, or the right to use
and occupancy, resulting from any fire or other
casualty of the kind covered by standard fire in-
Surance policies with extended coverage, regardless
of whether or not or in what amounts such insurance
is now or hereafter carried by the parties hereto,
or either of then.
Sec. 17. Utilities: Tenant agrees to pay or
cause to be paid all charges against Landlord for
gas, water, sewer, electricity, light, heat or power,
telephone or other communication service used,
rendered or supplied upon or in connection with the
premises throughout the term of this lease and to
indemnify the Landlord and save it harmless against
any liability or damages on such account.
Sec. 18. Assigoment and Subletting: Tenant _
shall not assign or in any manner transfer this lease
or interests herein without the previous consent of
Landlord and shall not sublet the premises or any
part thereof or otherwise allow anyone to occupy the
premises without like consent. Consent by Landlord
to one assignment of this lease or to any subletting
of the premises shall not operate as a consent to
a subsequent assignment or subletting.
Sec. 19. Eminent Domain: If the whole of the
premises es hered y leased shall be taken dy any public
authority.under the power of eminent domain, then the
tern of this lease shall cease as of the day possession
is taken dy such public authority and the rent shali
be paid up to that date. If only a part of the pre-
mises shall be taken uncer eminent domain and the re-
ma inder of the premises not so taken can be made tenant-
able for the purpose for which Tenant has been using
the premises, then this lease shill continue in full
1 3
-6-
/
LT
1585
force and effect as to the remainder of said premises
and all of the terms herein provided shall continue
in effect, except that the rental shall be reduced
in proportion to the amount of the premises taken.
Sec. 20. Default of Tenant: If any rental or
other sums payable by Tenant to Landlord shall remain
unpaid for more than ten (10) days after same are due
and payable, or if Tenant shall violate or default in
the.performance of any of the other covenants, agree-
ments, stipulations or conditions herein, and such
violation or default shall continue for a period of
ten (10) days after written notice by Landlord to
Tenant of such violation or default, then without
prejudice to any other remedies which Landlord might
have, Landlord may, at its election, declare this lease
forfeited and the said tern ended, and re-enter the
premises, with or without process of law, and to renove
all persons or chattels therefrom. Landlord shall not
‘be liable for damages by reason of such re-entry, but
notwithstanding such re-entry by Landlord, the liability
of Tenant for the rent or other charges provided for
herein shall not be extinguished for the balance of
the term of this lease, and Tenant agrees to make good
to Landlord any deficiency arising from a re-entry and
re-letting of the premises at lesser rentals and other
charges than herein reserved and Tenant shall pay such
deficiencies each month as the amount thereof is ascer-
tained by Landlord. In case of such re-entry, Landlord
may re-let the premises upon such terms as to it may
seem fit and for a term which may expire either before
or after the expiration date of this lease. It is
further understood that Tenant will pay, in addition
to the rentals and other sums agreed to be paid here-
under, such additional sums as the court may adjudge
reasonable as attorney's fees in any suit or action
instituted by Landlord to enforce the provisions of
this lease, or the collection of the rentals due Lanc-
lord hereunder. :
: 1586
Sec. 21. Tenant's Payables as Rent: All
amounts payable by Tenant to Landlord hereunder, in-
Cluding amounts paid by Landlord in behalf of Tenant
and reimtursable to Landlord, and whether specifically
called rcat or not, shall be deemed to be rent and in
respect thereto Landlord shall have and enjoy all
remedies provided under the laws of the State of
Washington and under Section 20 hereof with respect
to the collection of rent. All such amounts shall
bear interest at the rate of eight per cent (8%) per
annum from the date of any delinquency in payment
thereof to the date paid. ’
Sec. 22. Waiver: One or more waivers of any
provision of this lease by Landlord shall not be con-
Btrued as a waiver of a subsequent breach of the same
provision, and the consent or approval by Landlord to .
or of any act by Tenant requiring Landlord's consent
or approval shall not be deemed to waive or render un-
necessary Landlord's consent or approval to or of any
subsequent similar act by Tenant. The subsequent
acceptance of rent shall not be deemed a waiver of
preceding breach, nor may any portion of this lease
be waived either by Landlord or Tenant except by appro-
priate written instrument. N
—
. Sec. 23. Expansion: After the initial building
is built on the promises Tenant may thereafter expanc
Said builcing so long as the ratio of six (6) parking
areas for euch 1,000 square feet of gross building
area is maintained. 8
Sec. 24. Utilities Lines: Landlord, at its own
expense, shall bring all utility lines to the perimcter
of the premises and Tenant shall, at its own expense,
extend the lines on the premises to its building.
Sec. 25. Pa nt of Taxes, Assessments and
Carrying Cha: ses: Landiora Shali take such steps as
are necessary tO have the premises scparately assessed
-8-
1587
by all taxing authorities. Tenant Shall pay as
additional rent before any fino, penalty, intérest
or cost may be added thereto for the non-payment thereof
all real estate taxes payable curing the term of this.
Yeaso or any extension thereof and ‘othéF governmental
rges, general and special; or ordinary and extra-
0 ary, unforeseen as well as foreseen, of any Kind
“and nature whatsoever, including assessments for “pub-
FGvements hereafter levied on the premises and
becoming payable during the tern ‘of this Tease br any
“extension thereof, If any such assessments are” pay-~
„Able in installments, then Tenant shall only be obligated
to pay the installment becoming due during the term of
this lease or any extension thereof, Real estate taxes
for the year in which the term of this lease or any
extension thereof ends shall be. prorated as between
Landlord and Tenant.
If at any time during the term of this lease
under the laws of the State or any political subdivision
thereof in which the premises are Situated, a tax or
excise on rents or other tax however described is levied
or assessed by said state or political subdivision
against the Landlord or the annual rent payable here-
under, Tenant covenants to Pay and discharge such tax
or excise on rents or other tax but only to the extent
of the amount thereof which is lawfally assessed or
imposed upon Landlord and which was so assessed or
imposed as a direct result of Landlord's ownership of
the premises or of Landlord's interest in this lease
or of the rentals accruing under’ this lease, it being
the intention of the parties hereto that the rent to
be paid hereunder shall be paid to Landlord absolutely
net without deduction of any nature whatsoever, fore-
seeable or unforeseeable, except as in this Lease
otherwise expressly provided. The Payment to be made
by Ten:.:t pursuant to this section shall be made before
any fine, penalty, interest or cost may be added thereto —
for the non-payment thereof. Such tax or excise on
rents or other tax shall be deemed to be an item of
additional rent hereunder,
Sec. 26. Option to Extend. Tenant, if not in
default in the periormance 517 any of its obligations
hereunder, shall have the option to extend this lease
for an additional period of ten (10) years upon the
same terms and conditions as herein expressed except
that the annual rental for such extended term shall
.
—8—
1588
be an amount ( not less than Twelve Thousand Nine
Hundred Twenty-Seven Dollars ($12,927.00) per year)
as is arrived at by negotiation between the part ies,
or, in licu of agreement, by arbitration in a manner
as hereinafter provided. Tenant, if not in default
in the performance of any of its obligations hereunder,
shall have the option to extend this lease for an
additional ten (10) year period beyond the first ten
(10) year option period, In the event the first option is
exercised, upon the same terms and conditions as
herein expressed except that the annual rental for
such extended term shall be such sum ( but in no
event less than the rental for the last year of the
first ten (10) year option, period) as may de agreed upon
by Landlord and Tenant, but in lieu of such agreement ,
such sum as may be arrived at by arbitration in the
manner as hereinafter provided.
If the parties are unable to agree on the
rental for either of the ten (10) year option periods,
then the rental shall be determined by arbitration
unde: the rules and procedures of the American
Arbitration Association then in effect.
Sec. 27. Destruction and Restoration: Tenant
further agrees that in case of Gamage to or destruction.
of the building on the premises, it will promptly,
without cost to the Landlord, repair, restore and ‘
rebuild the same as nearly as possible to the condition
that the building was in prior to such damage or 3
destruction,. If within two (2) years of the expira-
tion of the term of this lease or any renewal term,
the building on the premises shall be destroyed or
damazea ( such an extent that the restoration theres!
will cost an amount in excess of the insurable value
of the building just prior to the said destruction .
and Tenant shall not be willing to expend any sums in ex-
cess thereof for the purpose of restoring such destruc-
tion or damage, then Tenant shall, with reasonable
pronptness, notify Landlord of such fact in writing
within sixty (60) days after such damage or destruction..
In the event that Tenant elects not to expend any such
sums 2S afcresaid, then (a) tais lease shall cease
and c to an end on a day to be specified in said
notice, which date shall not be more than ten (10) days
‘after tuc date of delivery of such notice, and Tenant
.
—.
-10-
; 1589
- Shall make payment of all rent and other charges
payable by Tenant hereunder, justly apportioned to the
date of such termination, and (b) Tenant shall pay
to Landlord an amount of money equal to the insurable
value of the building just prior to damage or destruc-
tion, which money shall belong to Landlord.
Except as otherwise specifically provided
herein, damage to or destruction of any portion of
all of the buildings, structures and fixtures upon
the demised premises, by fire, the elements or any,
cause whatsoever, whether with or without fault on the
part of Tenant, shall not terminate this lease or
entitle Tenant to surrender the premises or entitle
Tenant to any abatement of or reduction in the rent
payable, or otherwise affect the respective obliga-
tions of the parties hereto, any present or future law
to the contrary notwithstanding.
Sec. 28. Successors and Assigns: Subject to
the provisions of Section 18 hereor, all of the pro-
visions of this lease shall be binding and inure to
the benefit of and shall apply to the respective
assigns and legal representatives of Landlord and
Tenant, respectively. .
Sec. 29. Notices: All notices in this lease
provided to be given by either party hereto to the *
other shall be deemed to have been given, when made in
writing and deposited in the Unites States mail, ~ —
certizied and postage prepaid, and addressed as follows:
‘TO LANDLORD: p. o. Box 2232 5
: ‘Seattle, Washington 98111
TO TEXANT: On the leased premises.
The <ddress to which any notice, demand or other
writing may be given, made or sent to either party may
be changed by written notice given by such party as
above provided. . —
—
“ie
1590
Se... 30. Bank Exclusive:: Landlord shall not rent
any space in the Shopping Center for use as 2 commercial
dank. This shall not exclude use of space for a mutual
savings dank or a savings and loan association,
IN WITNESS WHEREOF, the Landlord and the Tenant
have signed their names and affixed their seais the day
and year first above written. :
. REALBON CORPORATION
3
ATTEST: Vice President
Secretary
COLUMBIA CENTER NATIONAL BANK
: By
ATTEST: ‘
-12-
1591
ex K-72-b
RLS: j¢ 7-10-68 Rov. |
GUARANTY
The undersigned, THE NATIONAL BANK OF COMMERCE OF
SEATTLE, a National. Bank, in order to induce REALBON
for REALBON CORPORATION entering into said lease,
does hereby guarantee to REALBON CORPORATION that
Columbia Center National Bank Shall faithfully perform
all of the terms and conditions of said lease to be
kept and performed by the Tenant and, Specifically,
that such corporation shal? pay, according to its
terms, all rentals and other charges payable under
and pursuant to the terms of said lease.
The undersigned further agrees that no concession,’
waiver, modification or indulgence on the part of REALBON
CORPORiTION or its Successors and assigns granted to said
lessee corporation with respect to the performance of
DATED this day of g „ 1968.
THE NATIONAL BANK OF COMMERCE
OF SEATTLE
—
By
1592
GX K-72-b-1
STATE OF WASHINGTOX)
COUNTY OF K I N G)
On this day of „ 1968, before me personally
appeared u. F. BOYS, to me Known to be the Vice President of
’ REALSON CORPORATION, the corporation that executed the within
and foregoing instrument, and acknowledged the said instrument
to be the free and voluntary act and deed of said corporation
for the uses and purposes therein mentioned, and on oath stated
that he was authorized to execute tie said instrument, and that
the seal affixed is the corporate seal of said corporation,
IN WITNESS WHEREOF, I have hereunto set my hand and affixed
my official seal the day and year last above written,
'
Notary Public in and for the State
of Washington, residing at Seattle
STATE OF WASH NGTON )
ss. 2
COUNTY OF
On this day of » 1968, before me personally
appeared 9 tS me known to be the |
Of COLUMBIA CENTER NATIONAL BANK, the
corporation that executed the within and ioregoing instrument, and
acknowledged the gaid instrument to be the free and voluntary act
and deed of said corporation for the uses and purposes therein
mentioned, and on oath stated that he was authorized to execute
the said instrument, and that she seal affixed is the corporate
seal of Said corporation. 0
IN WITNESS WHEREOF, I have hereunto set my hand and affixed
my official seal the day and year last above written.
Notary Public in and for the State
of Washington, residing at
1593
RLS: jg 9-3-68 GX K-73 °
Price Dep. Ex. 4
COLUMBIA CENTER AGREEMENT OF LEASE
WITH
KING COUNTY BUILDING co. \
This lease, dated this lith day of rr, 1968,
between REALBON CORPORATION, “a ington corporation, as
“Landlord,” and KING COUNTY BUILDING Co., a Washington corpora-
tion, as “Tenant,” is upon the following terms and conditions:
Sec. 1. Premises Demised: Landlord leases to Tenant
and Tenan eases from ord certain premises hereinafter
referred to as “the premises," that is, the Premises des-
cribed in Exhibit A1“ hereto and outlined in red on the
plan of the Shopping Center attached as Exhibit "a" hereto,
The term “Shopping Center," as used herein, shall mean the
is set forth in that certain instrument recorded in Volume
236, page 148, records of the Auditor of said county.
Sec. 2. Term: The term of this lease shall commence as
of August I, Ted and end on July 31, 1999,
subject to the approval of Landlord, which
approval shall no
*
sidewalks, planters and curbs. The Tenant shall also install
the necessary storm drains on its premises, Landlord wi 11,
at its expense, pave with asphalt the parking areas on the
8 *
Sec. 4 Rent: Tenant agrees to pay to Landlord at
such place as Land
lord may from time to time designate
rentals as follows:
(a) No rental Shall be payable until July 1, 1969
or until the bank on the demised premises opens
for business, whichever is earlier, Any rentals
payable until July 1, 1969 shall be Payable at
the rate of $600 per month. a
(>) For the three years of the term hereof Commencing
. July 1, 1969, Seven Thousand Two Hundred Dollars
($7, 200) per year. '
—— —
1594
(c) For che next seven (7) years of the term
of this lease, Nine Thousand Nine Hundred
Sixty-Five Dollars ($9,965.00) per year;
(a) For the next five (5) years of the term
of this lease, Eleven Thousand Two Hundred
Forty-One Dollars @11,241.00) per year;
(e) For the next six (6) years of the term of
this lease, Twelve Thousand Nine Hundred
Twenty-Seven Dollars ($12,927.00) per year.
(t) For the next ten (10) years of this lease,
Fifteen Thousand Dollars ($15,000.00) per year.
The rental for each year shall be payable in twelve (12)
monthly installments. Notwithstanding anything herein
contained Tenant shall not be obligated to pay more than
$600.00 per month as rental until the Shopping Center is
open for business.
Sec. 8, Use of Premises: Tenant may use and occupy
the premises only for the purpose of conducting the busi-
ness of a commercial bank and for no other purpose without
the written consent of Landlord.
Sec. 8. Conduct of Business: Tenant shall, except
where prevented by circumstances beyond its control, con-
tinuously cause to be operated a banking business on the
premises, observing banking hours reasonably consonant
with those maintained by major commercial banks in the '
Tri-Cities area. Nothing herein contained shall be deemed
to require Saturday or Sunday openings, nor to unreasonably
restrict the fixing of banking hours. .
Sec, 7. Care of Premises: Tenant shall keep t
premises under its control, clean and free from rubbish
and dirt at all times and shall store all trash and
garbage within the premises and arrange for the picking
up of such trash and garbage. Tenant shall not burn any
trash of any kind in or about the premises.
Sec. 8. Merchants! Association: Tenant agrees that
the occupant of the premises Will become and remain during
the entire term of this lease a member of the Nerchants'
Association which shall consist of Landlord and those doing
business in the Shopping Center. The purpose of said associa-
tion shall be the general furtherance of the business in-
terests of the Shopping Center as a whole and include
advertising, promotion and special events calculated to
benefit the tenants of the Shopping Center. The association
shall make its own rules and regulations with respect to such
matters. The occupant of the premises shall pay monthly its
proportionate share of the expenses of said association and
its activities. — ;
-2-
1595 A
Sec. 9. Exterior Fixtures, Tenant shall not
install exterior ghting fixtures, shades or awnings
or do any exterior decoration or painting, or mako any
structural alterations without the previous written
consent of Landlord,
Sec. 10. Signs and Advertising Media: Tenant
shall not install any signs or erer fag media or
* window or door. lettering or placards visible from out-
side the premises without the previous written consent
of Landlord, Tenant agrees at its own expense to
design sign panels and signs in accordance with the
style for sign panels and signs adopted by Landlord
for the Shopping Center and to install and thereafter
maintain the signs so designed, Tenant agrees not to
use any advertising media that shall be objectionable to
landlord, such as loudspeakers, photographs or radio
broadcasts in a manner to be heard outside the premises,
without the written permission of Landlord.
Upon request of Landlord, Tenant shall immediately
remove any sign, light, advertisement, marquee, awning
‘or other display which Tenant has placed or permitted |
to be placed on or about the premises, without consent
of Landlord, which in the opinion of Landlord is objec-
tionable, offensive, or not in good taste, and, if Tenant
shall fail to do so, Landlord may enter the premises and
remove the same at the expense of Tenant,
Sec. 11. Common Areas Defined: The term “common
areas“ as used herein mean @ parking areas, land-
scaped areas, driveways, truckways, areaways, roads,
walks, curbs, corridors, malls, public toilets, public
stairs, ramps, elevators, escalators, shelters, bus
stations, and public lounges as located and laid out
from time to time in the Shopping Center, and other
parking areas designated from time to time by Landlord
for use by Tenant's customers, together with the parking
areas on the demised premises.
Sec. 12. Use of Common Areas: Landlord hereby
grants to nant an © its employees, agents and cus-
tomers and invitees the non-exclusive right for and
during the term of this lease to use the parking area and
other common areas as from time to time constituted, such
use to be in common with all other occupants of the
Shopping Center, whether as tenants or as owners and
their employees, agents, customers and invitees... The’
Parking area and other common areas are as shown on the
plan of the Shopping Center attached as Exhibit A“
hereto, The unrestricted -right is reseryed to make. changes
“ine —
2
1596
RLS: jg 9-53-68
in the parking areas and ia the common areas, pro-
vided, however, that the designated parking area shall
not be decreased by more than ten percent (10%) of
the area so designated at the commencement of this
lease without substituting other parking areas equal
to or greater in area and reasonably accessible to the
tenants of the Shopping Center. Any such substituted
areas may be elevated, surface, or subterrancan. Land-
lord shall have the right to make such changes in the
Plan of the Shopping Center attached as Exhibit "A"
hereto as Landlord deems necessary and consistent with
the purposes and intent evidenced by said plan, and,
in respect thereto, shall have the right to erect such
additional buildings or structures and such planter
boxes, fountains, and other landscaping devices or
features and shall have the right to erect such pro-
motional and other displays within the common areas
as Landlord may from time to time deem desirable.
No barriers shall be erected to separate the
parking areas on the premises from the parking areas
in the balance of the Shopping Center.
Sec. 13. Control of Common Areas: Parking areas
and other common areas in the opping Center (other
than the parking areas on the premises) shall at all
times be subject to the exclusive control and manage-
ment of Landlord. Landlord shall have the right, from
time to time, to establish reasonable rules and regu-
lations with respect to the parking areas; to construct
surface or elevated parking areas and facilities; to
establish, and from time to time to change, the level
of parking surfaces; and to Close all or any portion of
said areas or facilities to such an extent as may, in
the opinion of the Landlord's counsel, be legally suffi-
cient to prevent a dedication thereof or the accrual
of any rights to any person or to the public domain.
. Within five (5) days of written notice from Land-
lord, Tenant shall furnish Landlord the automobile
license numbers assigned to its cars and the cars of
all officers and employees employed in the premises.
Landlord shall have the right to designate the portions
of the parking area where Tenant, its sub-tenant, and
their officers and employees may park their cars.
Sec. 14. Common Area Charge: The “common area .
charge” is defined as Landlord's actual gross costs
and expenses of every kind or nature incurred by Land-
lord by reason of Landlord's ownership and/or operation
\
—
4
1597
1 8 IK 100
*
of the common areas. Such ron costs and expenses
» © all include, but shall not be limited to, the costs
« Operating, maintaining, Lighting and policing and
the costs of repairs and replacements to the common
arcax, the real estate taxes payable on the common
areas, liability insurance covering the common arcas,
“assessments levied on the common areas, and, a reason-
able allowance for the depreciation of maintenance
equipment used in public area maintenance, plus a
charge of fifteen percent (15%) of such gross costs
and expenses, Tenant shall pay its proportionate
share of the common area charge on tho following basis:
Calculate the number of units in the premises, with
each square foot of mall level area equaling one unit,
and cach square foot of upper or lower level area as
one-half unit. Calculate the number of units in the
Shopping Center with each square foot of mall level
of all occupied space (whether or not adjoining the
Mall) equaling one unit and each square foot of upper
or lower level areas of occupied space as one-half
unit. The mezzanine shall be considered as upper
level space. The total costs and expenses referred
to in this Section shall be multiplied by a fraction,
the numerator of which is the number of units in the
premises and the denominator of which is the number of
_ units in the Shopping Center. The resulting sum shall
be Tenant's proportionate share of the common area
charge.
All charges payable by Tenant under this section
as & common area charge shall be paid in advance at the
Same time and place as herein provided for the payment
of the fixed minimum rent. Such charges shall be equal
to one-twelfth (1/12th) of the total of Landlord's ~
reasonable estimate of such charges for the first year
the Shopping Center is open and, after such first year,
shall be an amount equal to one-twelfth (1/12th) of
the total charges for the previous. twelve-months period,
adjusted to reflect Landlord's reasonable estimate of.
anticipated increases or decreases in such charges.
Appropriate adjustment shall be made for any period
less than a full year.
Sec. 15. Tenant's Insurance: Tenant, at its
sole expense, 5 procure and maintain in full force
and effect public liability insurance including con-
tractual diability coverage with limits of not less
than two hundred and fifty thousand dollars ($250,000.00)
per person, five hundred thousand dollars ($500, 000. 00)
per occurrence, and fifty thousand dollars ($50, 000.00)
for property damage, insuring against any and all lia-
bility of Tenant with respect to the promises or use
or occupadcy thereof,
-5-
1598
RLS: jg 9-3-68
All insurance policies shall be issued by
companies satisfactory to Landlord, and any such
‘insurance policy shall expressly provide that the
insurance company shall notify the Landlord in
writing at least ten (10) days prior to any altecra-
tion or cancellation thereof, Each such policy, or
a duplicate, or appropriate certificate evidenced
thereof, shall be delivered to Landlord,
Sec. 16. Release and Subrogation: Each of
the parties hereto hereby waives any and all rights
of action for negligence against the other party
. hereto which may hereafter arise for damage to the
premises, to property therein, or the right to use
and occupancy, resulting from any fire or other
casualty of the kind covered by standard fire
insurance policies with extended coverage, regard-
less of whether or not or in what amounts such
insurance is now or hereafter carried by the parties
hereto, or either of then.
Sec. 17. Utilities: Tenant agrees to pay or
cause to be paid all charges against Landlord for
gas, water, sewer, electricity, light, heat or power,
telephone or other communication service used, rendered
or supplied upon or in connection with the premises
~ throughout the term of this lease and to indemnify the
Landlord and save it harmless against any liability or
damages on such account.
Sec. 18. Assignment and Subletting: Tenant
shall not assign or 15 any manner ler this lease
or interests herein without the previous consent of
Landlord and shall not sublet the premises or any _
part thereof or otherwise allow anyone to occupy the
Premises without like consent. Consent by Landlord
to one assignment of this lease or to any subletting
of the premises shall not operate as a consent to a
Subsequent assignment or subletting. Landlord does
hereby consent to the subletting of the premises to J
Columbia Center National Bank, or the subletting of the
premises or the assignment of this lease to any other
bank organized under the banking laws of the State of
Washington or the United States. Notwithstanding any
such subletting or assignment, Tenant shall remain
liable for all obligations under this lease.
— *
1599
Sec. 19. Eminent Domain: If the whole of the.
. premises hereby leased shall bo taken by any public
authority under the power of eminent domain, then the
-term of this lease shall cease as of the day possession
is taken by such public authority and the rent shall
be paid up to that date. If only a part of the pre-
- mises shall be taken under eminent domain and the re-
mainder of the premises not so taken can be made tenant-
able for the purpose for which Tenant has been using tle
premises, then this lease shall continue in full force and
. effect as to the remainder of Said premises and all of
the terms herein provided shall continue in effect, *
except that the rental shall be reduced in proportien
to the amount of the premises taken,
due and payable, or if Tenant shall violate or default
in the performance of any of the other covenants, agree-
ments, stipulations or conditions herein, and such vio-
lation or default shall continue for a period of thirty
(30) days after written notice by Landlord to Tenant of
such violation or default, or if such default canno
be cured in thirty (30) days and Tenant fails to use
reasonable diligence to cure such default, then without
prejudice to any other remedies which Landlord might
have, Landlord may, at its election, declare this lease
forfeited and the said term ended, and re-enter the
premises, with or without process of law, and to remove
211 persons or chattels therefrom. Landlord shall not
be liable for damages by reason of such re-entry, but .
notwithstanding such re-entry by Landlord, the liability
of Tenant for the rent or other charges provided for
herein shall not be extinguished for the balance of
the term of this lease, and Tenant agrees to make
to Landlord any deficiency arising from a re-entry and
re-letting of the premises at lesser rentals and other
charges than herein reserved and Tenant shall pay such
deficiencies each month as the amount thereof is ascer-
tained by Landlord, In case of such re-entry, Landlord
may re-let the premises upon such terms as to it may
seem fit and for a term which may expire either before
or after the expiration date of this lease, In any
action to enforce any provision of this lease, including
the collection of rentals, the provailing Party shall
be entitled to a reasonable attornoy's fee to be fixed
by the court. 0 N N ee el
. . ~ . 2s . N .
1 . ay
—7—
1600
Sec. 21. Tenant's Payables as Rent: All amounts
payable by Tenant to Landlord hereunder, including
‘amounts paid by Landlord in behalf of Tenant and roinm- .
bursable to Landlord, and whether specifically called
rent or not, shall be deemed to be rent and in respect
thereto Landlord shall have and enjoy all remedies
provided under the laws of the State of Washington and
under Section 20 hereof with respect to the collection
of rent. All such amounts shall bear interest at the
. rate-of eight percent (8%) per annum from the date of
any delinquency in payment thereof to the date paid,
Sec. 22. Waiver: One or more waivers of any
provision of this lease. by Landlord shall not be con-
strued as a waiver of a subsequent breach of the same
provision, and the consent or approval by Landlord to
or of any act by Tenant requiring Landlord's consent
or approval shall not be deemed to waive or render un-
necessary Landlord's consent or approval to or of any
subsequent similar act by Tenant. The subsequent
acceptance of rent shall not be deemed a waiver of
any preceding breach, nor may any portion of this
lease be waived either by Landlord or Tenant except
by appropriate written instrument.
Sec. 23: Expension: After the initial building
is bu on premises Tenant may thercafter expand
said building so long as the ratio of six (6) parking
areas for each 1,000 square feet of gross floor area
is maintained on the premises.
: Sec. 24. Utilities Lines: Landlord, at its own
expense, shall bring all utility lines to the perimeter
of the premises and Tenant shall, at its own expenso,
extend the lines on the premises to its building.
Tenant shall not be obligated to pay rentals until
the utility lines have been brought to the por inotor
of the property. gree
Sec. 25. Pa
nt of Taxes, Assessments and Carryin
Charges: a such steps as are necessary
Bi ave the premises separately assessed by all taxing
‘authorities. Tenant shall pay as additional rent before
any fine, penalty, interest or cost may be added thereto
„tor the non-payment thereof, all real estate taxes pay-
‘able during the term of this lease or any extensio
This text is long and has been trimmed here. Open the source document for the complete record.
This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.